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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

 For the quarterly period ended December 31, 2021

 

  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

 For the transition period from

 

 Commission File No. 333-191725

 

 REGEN BIOPHARMA, INC.

(Exact name of small business issuer as specified in its charter) 

 

Nevada 45-5192997
(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)

 

4700 Spring Street, St 304La MesaCalifornia 91942

(Address of Principal Executive Offices)

619 722-5505

(Issuer’s telephone number)

None

(Former name, address and fiscal year, if changed since last report)  

Check whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the issuer was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☐   No ☒

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes ☐  No ☒

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of “large accelerated filer,” “accelerated filer,” “non-accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

☐  Large accelerated filer ☐  Accelerated filer
☐  Non-accelerated filer   Smaller reporting company
  Emerging Growth Company 

 

APPLICABLE ONLY TO CORPORATE ISSUERS:

 

As of June 30, 2021 Regen Biopharma, Inc. had 4,564,002,832 common shares outstanding.

 

As of December 31, 2021 Regen Biopharma, Inc. had 439,293,006 shares of Series A Preferred Stock outstanding.

 

As of December 31, 2021 Regen Biopharma, Inc. had 50,000 shares of Series AA Preferred Stock outstanding.

 

As of December 31, 2021 Regen Biopharma, Inc. had 44,000,000 shares of Series M Preferred Stock outstanding.

 

As of December 31, 2021 Regen Biopharma, Inc. had 10,000 shares of Series NC Preferred Stock outstanding

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act):

Yes ☐ No ☒

 

1 
 

 

PART I - FINANCIAL INFORMATION

 

Item 1. - Financial Statements

 

       
REGEN BIOPHARMA , INC.      
CONDENSED CONSOLIDATED BALANCE SHEETS      
       
   As of  As of
   December 31, 2021
(Unaudited)
  September 30, 2021
ASSETS      
CURRENT ASSETS          
Cash  $353,492   $727,162 
Accounts Receivable, Related Party   240,617    213,192 
Note Receivable, Related Party   5,396    5,396 
Accrued Interest Receivable   365    230 
Prepaid Expenses   41,288    48,144 
     Total Current Assets   641,157    994,124 
           
OTHER ASSETS          
Investment Securities   74,115    198,006 
Investment Securities, Related Party   19,969    19,969 
Total Other Assets   94,084    217,975 
           
TOTAL ASSETS  $735,241   $1,212,099 
LIABILITIES AND STOCKHOLDERS' EQUITY          
Current Liabilities:          
Accounts payable   32,288    91,498 
Notes Payable   1,451,630    1,429,179 
Accrued payroll taxes   4,241    4,241 
Accrued Interest   661,934    954,861 
Accrued Rent   0    0 
Accrued Payroll   1,266,679    1,266,679 
Other Accrued Expenses   41,423    41,423 
Bank Overdraft   1,000    1,000 
Due to Investor   20,000    20,000 
Unearned Income   1,812,166    1,843,806 
Derivative Liability   3,927,538    6,892,477 
Convertible Notes Payable Less  unamortized discount   1,262,310    2,131,311 
Convertible Notes Payable, Related Parties Less  unamortized discount   10,000    21,500 
Total Current Liabilities   10,491,210    14,697,976 
Long Term Liabilities:          
Convertible Notes Payable, Related Parties Less  unamortized discount        0 
Total Long Term Liabilities          
Total Liabilities   10,491,210    14,697,976 
           
STOCKHOLDERS' EQUITY (DEFICIT)          
Common Stock ($.0001 par value) 500,000,000 shares authorized; 4,800,000,000 authorized and  4,564,002,832 issued and outstanding as of December 31,2021 and 4,800,000,000 authorized and 4,350,554,514 shares issued and outstanding as of September 30 ,2021.   456,399    435,054 
Preferred Stock, 0.0001 par value, 800,000,000 authorized as of December 31,2021  and September 30,2021 respectively        
Series A Preferred 300,000,000 authorized, 439,293,406 and 431,998,817 outstanding as of  December 31,2021 and September 30, 2021 respectively   43,929    43,200 
Series AA Preferred $0.0001 par value 600,000 authorized and 50,000 and 50,000   outstanding as of December 31,2021 and September 30,2021 respectively   5    5 
Series M Preferred $0.0001 par value 300,000,000 authorized and  44,000,000 outstanding as of September 30,2021 and December 31, 2021 respectively   4,400    4,400 
Series NC Preferred $0.0001 par value 20,000 and 0 authorized and 10,000 and 0  outstanding as of September 30, 2021 and December 31,2021 respectively   1    1 
Additional Paid in capital   9,706,891    8,644,037 
Contributed Capital   736,326    736,326 
Retained Earnings (Deficit)   (20,703,920)   (23,348,900)
Total Stockholders' Equity (Deficit)   (9,755,969)   (13,485,877)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)  $735,241   $1,212,099 
           
The Accompanying Notes are an Integral Part of These Financial Statements

 

2 
 

 

           
REGEN BIOPHARMA , INC.      
CONDENSED CONSOLIDATED  STATEMENTS OF OPERATIONS      
( Unaudited)      
       
    Quarter Ended December 31,2021    Quarter Ended December 31,2020 
REVENUES          
Revenues  $31,640   $   
Revenues, Related Party   27,425    27,425 
TOTAL REVENUES   59,065    27,425 
           
COST AND EXPENSES          
Research and Development   35,418    1,127 
Research and Development, Related Party   80,275    0 
General and Administrative   6,658    44,778 
Consulting and Professional Fees   38,136    0 
Rent   5,000    0 
Total Costs and Expenses   165,487    45,905 
OPERATING INCOME (LOSS)  $(106,423)  $(18,480)
           
OTHER INCOME & (EXPENSES)          
Interest Income   135    0 
Interest Expense   (35,010)   (73,212)
          
Interest Expense attributable to Amortization of Discount   (22,451)   (36,717)
Unrealized Gain ( Loss) on sale of Investment Securities   (123,891)   0 
Gain (Loss) on derecognition of Accounts Payable   62,700    0 
Derivative Income (Expense)   2,964,939    1,794,776 
Gain (Loss) on  Extinguishment Convertible Debt   (95,019)   0 
TOTAL OTHER INCOME (EXPENSE)   2,751,403    1,684,847 
           
NET INCOME (LOSS)  $2,644,980   $1,666,367 
NET INCOME (LOSS) attributable to common shareholders  $2,391,062   $1,385,417 
BASIC AND FULLY DILUTED EARNINGS (LOSS) PER SHARE  $0.001   $0.000 
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING   4,506,953,931    1,769,079,104 
           
The Accompanying Notes are an Integral Part of These Financial Statements

3 
 

 

                                                
  REGEN BIOPHARMA , INC.                                    
  Condensed Consolidated Statement of Shareholder's Deficit                                 
  (Unaudited)                                          
  Quarters ended December 31, 2020 and December 31, 2021                                 
                                                
        Series A  Preferred  Series AA Preferred  Series NC  Preferred  Common  Series M Preferred            
        Shares  Amount  Shares  Amount  Shares  Amount  Shares  Amount  Shares  Amount  Additional Paid-in Capital  Retained Earnings  Contributed Capital  Total
Balance September 30,2020    Balance September 30,2020   381,768,689   $38,177    50,000    $5              1,605,000,246   $160,498    44,000,000   $4,400   $8,313,876   $(16,583,666)  $731,711   $(7,334,998)
Shares issued for Debt 10/28/2020  Shares issued for Debt                                 57,726,183    5,773              (2,021)             3,752 
Shares Issued For Interest 10/28/2020  Shares Issued For Interest                                 22,339,663    2,234              (782)             1,452 
Shares issued for Debt 11/6/2020  Shares issued for Debt                                 60,007,919    6,001              (2,101)             3,900 
Shares Issued For Interest 11/6/2020  Shares Issued For Interest                                 23,926,234    2,393              (838)             1,555 
Shares issued for Debt 12/11/2020  Shares issued for Debt                                 60,834,498    6,083              1,217              7,300 
Shares Issued For Interest 12/11/2020  Shares Issued For Interest                                 26,185,501    2,619              523              3,142 
Shares issued for Debt 12/16/2020  Shares issued for Debt                                 3,300,000    330              99              429 
Shares Issued For Interest 12/16/2020  Shares Issued For Interest                                 1,819,077    182              54              236 
Shares issued for Fees 12/16/2020  Shares issued for Fees                                 1,228,077    123              36              159 
Shares issued for Debt 12/16/2020  Shares issued for Debt                                 62,003,571    6,200              (2,170)             4,030 
Shares Issued For Interest 12/16/2020  Shares Issued For Interest                                 26,155,352    2,616              (916)             1,700 
Shares issued for Debt 12/17/2020  Shares issued for Debt                                 68,333,539    6,833              1,367              8,200 
Shares Issued For Interest 12/17/2020  Shares Issued For Interest                                 14,883,378    1,488              212              1,700 
Shares issued for Debt 12/17/2020  Shares issued for Debt   20,000,437    2,000                                            11,000              13,000 
Shares Issued For Interest 12/17/2020  Shares Issued For Interest   12,378,732    1,238                                            6,808              8,046 
Shares issued for Debt 12/23/2020  Shares issued for Debt                                 88,888,889    8,889              7,111              16,000 
Shares Issued For Interest 12/23/2020  Shares Issued For Interest                                 19,555,555    1,956              1,294              3,250 
Shares issued for Debt 12/31/2020  Shares issued for Debt                                 82,004,603    8,200              (2,870)             5,330 
Shares Issued For Interest 12/31/2020  Shares Issued For Interest                                 35,832,781    3,583              (1,254)             2,329 
Additions to Contributed Capital Quarter ended 12/31/2020    Additions to Contributed Capital Quarter ended 12/31/2020                                                              1,865    1,865 
Net Loss Quarter Ended December 31,2020    Net Loss Quarter Ended December 31,2020                                                          1,666,367         1,666,367 
Balance December 31, 2020    Balance December 31, 2020   414,147,858   $41,415    50,000   $5              2,260,025,066   $226,001    44,000,000   $4,400   $8,330,646   $(14,917,299)  $733,576   $(5,581,256)
Balance September 30, 2021    Balance September 30, 2021   431,998,817   $43,200    50,000   $5    10,000   $1    4,350,554,514   $435,054    44,000,000   $4,400   $8,644,037   $(23,348,900)  $736,326   $(13,485,877)
Shares issued for Debt 10/1/2021  Shares issued for Debt                                10,000,000    1,000              99,000              100,000 
Shares issued for Interest 10/1/2021  Shares issued for Interest                                 2,666,200    267              26,395              26,662 
Shares issued for Debt 10/1/2021  Shares issued for Debt                                 10,000,000    1,000              99,000              100,000 
Shares issued for Interest 10/1/2021  Shares issued for Interest                                 3,883,700    388              38,449              38,837 
Shares issued for Debt 10/1/2021  Shares issued for Debt                                 6,022,971    602              49,398              50,000 
Shares issued for Interest 10/1/2021  Shares issued for Interest                                 2,361,366    236              19,367              19,603 
Shares issued for Debt 10/1/2021  Shares issued for Debt                                 15,503,953    1,550              48,450              50,000 
Shares issued for Interest 10/1/2021  Shares issued for Interest                                 5,759,719    576              17,999              18,575 
Shares issued for Interest 10/1/2021  Shares issued for Interest                                 23,255,888    2,326              72,674              75,000 
Shares issued for Debt 10/1/2021  Shares issued for Debt                                 9,945,768    995              31,080              32,075 
Shares issued for Interest 10/1/2021  Shares issued for Interest                                 7,751,973    775              24,225              25,000 
Shares issued for Interest 10/1/2021  Shares issued for Interest                                 3,211,178    321              10,035              10,356 
Shares issued for Debt 10/1/2021  Shares issued for Debt                                 1,000,016    100              24,900              25,000 
Shares issued for Interest 10/1/2021  Shares issued for Interest                                 355,326    36              8,847              8,883 
Shares issued for Debt 10/1/2021  Shares issued for Debt   4,000,047    400                                            49,600              50,000 
Shares issued for Interest 10/1/2021  Shares issued for Interest   1,869,542    187                                            23,182              23,369 
Shares issued for Debt 10/29/2021  Shares issued for Debt                                 10,256,427    1,026              98,974              100,000 
Shares issued for Interest 10/29/2021  Shares issued for Interest                                 4,082,878    408              39,400              39,808 
Shares issued for Debt 10/29/2021  Shares issued for Debt                                 8,421,053    842              39,158              40,000 
Shares issued for Interest 10/29/2021  Shares issued for Interest                                 2,987,789    299              13,893              14,192 
Shares issued for Debt 11/4/2021  Shares issued for Debt                                 6,250,082    625              49,375              50,000 
Shares issued for Interest 11/4/2021  Shares issued for Interest                                 2,376,531    238              18,774              19,012 
Shares issued for Debt 11/24/2021  Shares issued for Debt                                 72,476,800    7,248              3,716              10,964 
Shares issued for Debt 11/24/2021  Shares issued for Debt                                 1,000,014    100              24,900              25,000 
Shares issued for Interest 11/24/2021  Shares issued for Interest                                 461,086    46              11,481              11,527 
Shares issued for Debt 11/24/2021  Shares issued for Debt                                 2,400,000    240              59,760              60,000 
Shares issued for Interest 11/24/2021  Shares issued for Interest                                 1,017,600    102              25,338              25,440 
Shares issued for Debt 12/10/2021      1,000,000    100                                            24,900              25,000 
Shares issued for Interest 12/10/2021      425,000    43                                            10,583              10,625 
Net Loss for the Quarter Ended December 31,2021    Net Loss for the Quarter Ended December 31,2021                                                          2,644,980         2,644,980 
Balance December 31,2021    Balance December 31,2021   439,293,406   $43,929    50,000   $5    10,000   $1    4,564,002,832   $456,399    44,000,000   $4,400   $9,706,891   $(20,703,920)       $(9,755,969)
                                                                            
  The Accompanying Notes are an integral part of these Financial Statements

4 
 

REGEN BIOPHARMA, INC.

CONDENSED CONSOLIDATED  STATEMENTS OF CASH FLOWS

(Unaudited)

 

       
   Quarter Ended  Quarter Ended
   December 31, 2021  December 31,2020
CASH FLOWS FROM OPERATING ACTIVITIES          
Net Income (loss)  $2,644,980    1666367 
Adjustments to reconcile net Income to net cash          
Preferred Stock issued to Consultants          
Common Stock issued for Expenses        159 
Preferred Stock issued as compensation          
Increase (Decrease) in Interest expense attributable to amortization of Discount   22,451    36,717 
Increase (Decrease) in Accounts Payable   (59,210)   3,369 
(Increase) Decrease in Accounts Receivable   (27,425)   (27,425)
Increase (Decrease) in accrued Expenses   6,036    113712 
(Increase) Decrease in Prepaid Expenses   6,856    12 
Increase(Decrease) in Contributed Capital        1865 
Increase (Decrease)  in Derivative Expense   (2,964,939)   (1,794,776)
Increase (Decrease) in Unearned Income   (31,640)     
Increase (Decrease) in Bank Overdraft          
(Increase( Decrease in Notes Receivable          
(Increase( Decrease in Accrued Interest Receivable   (135)     
Securities accepted as compensation          
Increase (Decrease) in Loss on Sale of Investment Securities          
(Gain) Loss on Forgiveness of Debt          
Unrealized Loss(Gain) on Investment Securities   123,891      
Net Cash Provided by (Used in) Operating Activities  $(279,135)  $   
           
Cash Flows from Investment Activities          
Increase(Decrease) in Sale of Investment Securities          
Net Cash Provided By Investment Activities          
           
CASH FLOWS FROM FINANCING ACTIVITIES          
Increase ( Decrease)  in Notes Payable          
Increase( Decrease) in Convertible Notes Payable   (94,535)   0 
Net Cash Provided by (Used in) Financing Activities  $(94,535)   0 
           
Net Increase (Decrease) in Cash   (373,670)   0 
Cash at Beginning of Period  $727,162   $   
Cash at End of Period  $353,492   $   
           
Supplemental Disclosure of Noncash investing and financing activities:          
Common shares Issued for Debt  $710,964   $48,941 
Preferred Shares Issued for Debt  $75,000   $13,000 
Cash Paid for Interest  $28,973   $   
Common shares Issued for Interest  $264,970   $15,721 
Preferred Shares issued for Interest  $33,994   $8,046 
           
The Accompanying Notes are an Integral Part of These Financial Statements 

 

5 
 

REGEN BIOPHARMA, INC.

Notes to Condensed Consolidated Financial Statements

As of December 31, 2021

NOTE 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Company was organized April 24, 2012 under the laws of the State of Nevada 

The Company intends to engage primarily in the development of regenerative medical applications which we intend to license from other entities up to the point of successful completion of Phase I and or Phase II clinical trials after which we would either attempt to sell or license those developed applications or, alternatively, advance the application further to Phase III clinical trials.

The Company is currently engaged in actively identifying small molecules that inhibit or express NR2F6 leading to immune cell activation for oncology applications and immune cell suppression for autoimmune disease.

The Company is in the early stages of development of its proposed products and therapies. The Company will be required to obtain approval from the FDA in order to market any of The Company’s products or therapies. No approval has been granted by the FDA for the marketing and sale of any of the Company’s products and therapies and no assurance may be given that any of the Company’s products or therapies will be granted such approval. The Company’s current plans include the development of regenerative medical applications up to the point of successful completion of Phase I and/ or Phase II clinical trials after which the Company would either attempt to sell or license those developed applications or, alternatively, advance the application further to Phase III clinical trials. The Company can provide no assurance that the Company will be able to sell or license any product or that, if such product is sold or licensed, such sale or license will be on terms favorable to the Company.

A. BASIS OF ACCOUNTING

The financial statements have been prepared using the basis of accounting generally accepted in the United States of America. Under this basis of accounting, revenues are recorded as earned and expenses are recorded at the time liabilities are incurred. The Company has adopted a September 30 year-end.

B. PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include the accounts of KCL Therapeutics, Inc., a Nevada corporation and wholly owned subsidiary of Regen. Significant inter-company transactions have been eliminated.

The Company analyzes the conversion feature of Convertible Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change. The Company values the embedded derivative using the Black-Scholes pricing model.

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The Black Scholes pricing model used to determine the Derivative Liability on convertible notes issued by the Company in which an embedded derivative is recognized as of December 31, 2021 utilized the following inputs:

       
Risk Free Interest Rate     1.49 %
Expected Term     .(0.66) – (1.85) Yrs  
Expected Volatility     824.95 %
Expected Dividends        

H. INCOME TAXES

The Company accounts for income taxes using the liability method prescribed by ASC 740, “Income Taxes.” Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date.

The Company applied the provisions of ASC 740-10-50, “Accounting For Uncertainty In Income Taxes”, which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. As of September 30, 2021 the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.

The Company generated a deferred tax credit through net operating loss carry forward.  However, a valuation allowance of 100% has been established.

Interest and penalties on tax deficiencies recognized in accordance with ACS accounting standards are classified as income taxes in accordance with ASC Topic 740-10-50-19.

I.  BASIC EARNINGS (LOSS) PER SHARE

The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 260, “Earnings Per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. ASC 260 requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. The Company has adopted the provisions of ASC 260 effective from inception.

Basic net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding.

7 
 


J. ADVERTISING

Costs associated with advertising are charged to expense as incurred. Advertising expenses were $0 for the quarters ended December 31,2020 and December 31, 2021..

K. NOTES RECEIVABLE

Notes receivable are stated at cost, less impairment, if any.

As of December 31,2021 the Company has the following Notes Receivable

     
Zander Therapeutics, Inc.  $5,396 

$5,396 owed to the Company by Zander Therapeutics, Inc. bears simple interest at 10% and is due upon the demand of the Company.

L. REVENUE RECOGNITION

Sales of products and related costs of products sold are recognized when: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred; (iii) the price is fixed or determinable; and (iv) collectability is reasonably assured. These terms are typically met upon the prepayment or invoicing and shipment of products.

The Company determines the amount and timing of royalty revenue based on its contractual agreements with intellectual property licensees. The Company recognizes royalty revenue when earned under the terms of the agreements and when the Company considers realization of payment to be probable. Where royalties are based on a percentage of licensee sales of royalty-bearing products, the Company recognizes royalty revenue by applying this percentage to the Company’s estimate of applicable licensee sales. The Company bases this estimate on an analysis of each licensee’s sales results. Where warranted, revenue from licensees for contractual obligations such as License Initiation Fees are recognized upon satisfaction of all conditions required to be satisfied in order for that revenue to have been earned by the Company.

M. INTEREST RECEIVABLE

Interest receivable is stated at cost, less impairment, if any.

NOTE 2.  RECENT ACCOUNTING PRONOUNCEMENTS

In June 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-10, which eliminated certain financial reporting requirements of companies previously identified as “Development Stage Entities” (Topic 915). The amendments in this ASU simplify accounting guidance by removing all incremental financial reporting requirements for development stage entities. The amendments also reduce data maintenance and, for those entities subject to audit, audit costs by eliminating the requirement for development stage entities to present inception-to-date information in the statements of income, cash flows, and shareholder equity. Early application of each of the amendments is permitted for any annual reporting period or interim period for which the entity’s financial statements have not yet been issued (public business entities) or made available for issuance (other entities). Upon adoption, entities will no longer present or disclose any information required by Topic 915. The Company has adopted this standard.

As of the fiscal year ending September 30, 2019 the Company has adopted Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance in this Update supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification.

8 
 

The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

In June 2014, FASB issued Accounting Standards Update (ASU) No. 2014-12 Compensation — Stock Compensation (Topic 718), Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. A performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition under Accounting Standards Codification (ASC) 718, Compensation — Stock Compensation. As a result, the target is not reflected in the estimation of the award’s grant date fair value. Compensation cost would be recognized over the required service period, if it is probable that the performance condition will be achieved. The guidance is effective for annual periods beginning after 15 December 2015 and interim periods within those annual periods. Early adoption is permitted. The Company has reviewed the applicable ASU and has not, at the current time, quantified the effects of this pronouncement, however it believes that there will be no material effect on the consolidated financial statements.

In August2014, FASB issued Accounting Standards Update (ASU) No. 2014-15 Preparation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Under generally accepted accounting principles (GAAP), continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity’s liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity’s liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting in accordance with Subtopic 205-30, Presentation of Financial Statements—Liquidation Basis of Accounting. Even when an entity’s liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern. In those situations, financial statements should continue to be prepared under the going concern basis of accounting, but the amendments in this Update should be followed to determine whether to disclose information about the relevant conditions and events. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company will evaluate the going concern considerations in this ASU, however, at the current period, management does not believe that it has met the conditions which would subject these financial statements for additional disclosure.

On January 31, 2013, the FASB issued Accounting Standards Update [ASU] 2013-01, entitled Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. The guidance in ASU 2013-01 amends the requirements in the FASB Accounting Standards Codification [FASB ASC] Topic 210, entitled Balance Sheet. The ASU 2013-01 amendments to FASB ASC 210 clarify that ordinary trade receivables and receivables in general are not within the scope of ASU 2011-11, entitled Disclosure about Offsetting Assets and Liabilities, where that ASU amended the guidance in FASB ASC 210. As those disclosures now are modified with the ASU 2013-01 amendments, the FASB ASC 210 balance sheet offsetting disclosures now clearly are applicable only where reporting entities are involved with bifurcated embedded derivatives, repurchase agreements, reverse repurchase agreements, and securities borrowing and lending transactions that either are offset using the FASB ASC 210 or 815 requirements, or that are subject to enforceable master netting arrangements or similar agreements. ASU 2013-01 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The adoption of this ASU is not expected to have a material impact on our financial statements.

9 
 

 

On February 28, 2013, the FASB issued Accounting Standards Update [ASU] 2013-04, entitled Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date. The ASU 2013-04 amendments add to the guidance in FASB Accounting Standards Codification [FASB ASC] Topic 405, entitled Liabilities and require reporting entities to measure obligations resulting from certain joint and several liability arrangements where the total amount of the obligation is fixed as of the reporting date, as the sum of the following:

The amount the reporting entity agreed to pay on the basis of its arrangement among co-obligors.

Any additional amounts the reporting entity expects to pay on behalf of its co-obligors.

While early adoption of the amended guidance is permitted, for public companies, the guidance is required to be implemented in fiscal years, and interim periods within those years, beginning after December 15, 2013. The amendments need to be implemented retrospectively to all prior periods presented for obligations resulting from joint and several liability arrangements that exist at the beginning of the year of adoption. The adoption of ASU 2013-04 is not expected to have a material effect on the Company’s operating results or financial position.

On April 22, 2013, the FASB issued Accounting Standards Update [ASU] 2013-07, entitled Liquidation Basis of Accounting. With ASU 2013-07, the FASB amends the guidance in the FASB Accounting Standards Codification [FASB ASC] Topic 205, entitled Presentation of Financial Statements. The amendments serve to clarify when and how reporting entities should apply the liquidation basis of accounting. The guidance is applicable to all reporting entities, whether they are public or private companies or not-for-profit entities. The guidance also provides principles for the recognition of assets and liabilities and disclosures, as well as related financial statement presentation requirements. The requirements in ASU 2013-07 are effective for annual reporting periods beginning after December 15, 2013, and interim reporting periods within those annual periods. Reporting entities are required to apply the requirements in ASU 2013-07 prospectively from the day that liquidation becomes imminent. Early adoption is permitted. The adoption of ASU 2013-07 is not expected to have a material effect on the Company’s operating results or financial position.

In January 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2016-01, which amends the guidance in U.S. GAAP on the classification and measurement of financial instruments. Changes to the current guidance primarily affect the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the ASU clarifies guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The new standard is effective for fiscal years and interim periods beginning after December 15, 2017, and upon adoption, an entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet at the beginning of the first reporting period in which the guidance is effective. Early adoption is not permitted except for the provision to record fair value changes for financial liabilities under the fair value option resulting from instrument-specific credit risk in other comprehensive income. The Company adopted ASU 2016-01 as of the fiscal year ending September 30, 2019.

A variety of proposed or otherwise potential accounting standards are currently under study by standard setting organizations and various regulatory agencies.  Due to the tentative and preliminary nature of those proposed standards, the Company’s management has not determined whether implementation of such standards would be material to its financial statements.

NOTE 3. GOING CONCERN

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company generated net losses of $20,703,920 during the period from April 24, 2012 (inception) through December 31, 2021. This condition raises substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to meet its obligations, to obtain additional financing as may be required and ultimately to attain profitability. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Management plans to raise additional funds by offering securities for cash. Management has yet to decide what type of offering the Company will use or how much capital the Company will raise.

10 
 

NOTE 4. NOTES PAYABLE

(a) RELATED PARTY

 

   
   As of December 31, 2021
David Koos  $227 
Total:  $227 

$227 lent to the Company by David Koos is due and payable at the demand of the holder and bears simple interest at a rate of 15% per annum.

(b) NON RELATED PARTY

 

     
Coventry Enterprises LLC,  $1,500,000 
Total:  $1,500,000 

On September 17,2021 the “Company” issued a promissory note in the principal amount of $1,500,000 ( “Note”) of which $75,000 was retained by the Holder through an Original Issue Discount (“OID”) for due diligence and origination related to this transaction and Thirty-five Thousand Dollars $35,000 was remitted by the Holder, at the instance and on behalf of the Company, directly to Holder’s counsel for documentation preparation fees resulting in net consideration paid to the Company of $1,390,000.

The Note carries “Guaranteed Interest” on the principal amount at the rate of 5% per annum for the ten-month term of this Note for an aggregate Guaranteed Interest $62,500 all of which Guaranteed Interest shall be deemed earned as of September 17, 2021.

The Principal Amount and the Guaranteed Interest shall be due and payable in five equal monthly payments of $312,500 commencing on March 17, 2022 and continuing on the 17th day of each month thereafter until paid in full not later than July 18, 2022 (the “Maturity Date”).

Solely following an Event of Default (as such term is defined in the Note) the Note shall become convertible, in whole or in part, into shares of Common Stock at the option of the Holder. The conversion price of the Note is 90% of the lowest per-share Trading Price per share. Trading Price is defined as the lowest daily VWAP for the 20 Trading Days preceding a Conversion Date. VWAP is defined as the dollar volume-weighted average price for the common shares as reported by Bloomberg.

The OID is being amortized by the Company over the term of the Note. As of December 31 ,2021 the unamortized discount on this Note is $48,597.

11 
 

NOTE 5. CONVERTIBLE NOTES PAYABLE

On March 8, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $100,000 for consideration consisting of $100,000 cash. The Note pays simple interest in the amount of 8% per annum . The maturity of the Note is three years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Common Stock shall hereafter be changed or reclassified pursuant to the following terms and conditions:

(a) For the period beginning on the Issue Date and ending 365 days subsequent to the Issue Date (“Year 1”) a 50% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).

(b) For the period beginning one day subsequent to the final day of Year One and ending 365 days subsequent to Year One (“Year 2”) a 35% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).

(c) For the period beginning one day subsequent to the final day of Year 2 and ending 365 days subsequent to Year 2 (“Year 3”) a 25% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).

(d) “Trading Price” means the closing bid price on the Over-the-Counter Bulletin Board, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Lender (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Company and the Lender. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded. “Trading Volume” shall mean the number of shares traded on such Trading Day as reported by such Reporting Service. The Conversion Price shall be equitably adjusted for stock splits, stock dividends, rights offerings, combinations, recapitalization, reclassifications, extraordinary distributions and similar events by the Company relating to the Lender’s securities.

The Company shall have the right, exercisable on not less than five (5) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

Upon closing of a Transaction Event the Lender shall receive 0 .10% ( one tenth of one percent)of the consideration actually received by the Company from an unaffiliated third party as a result of the closing of a Transaction Event.

12 
 

“Transaction Event” shall mean either of:

(a) The sale by the Company of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

The issuance of the Note amounted in a beneficial conversion feature of $42,600 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $ 0. As of December 31, 2021 $100,000 of the principal amount of the Note remains outstanding.

On April 6, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 8% per annum . The maturity of the Note is three years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Common Stock shall hereafter be changed or reclassified pursuant to the following terms and conditions:

(a) For the period beginning on the Issue Date and ending 365 days subsequent to the Issue Date (“Year 1”) a 50% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).

(b) For the period beginning one day subsequent to the final day of Year One and ending 365 days subsequent to Year One (“Year 2”) a 35% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).

(c) For the period beginning one day subsequent to the final day of Year 2 and ending 365 days subsequent to Year 2 (“Year 3”) a 25% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).

(d) “Trading Price” means the closing bid price on the Over-the-Counter Bulletin Board, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Lender (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Company and the Lender. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded. “Trading Volume” shall mean the number of shares traded on such Trading Day as reported by such Reporting Service. The Conversion Price shall be equitably adjusted for stock splits, stock dividends, rights offerings, combinations, recapitalization, reclassifications, extraordinary distributions and similar events by the Company relating to the Lender’s securities.

The Company shall have the right, exercisable on not less than five (5) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

Upon closing of a Transaction Event the Lender shall receive 0 .10% ( one tenth of one percent)of the consideration actually received by the Company from an unaffiliated third party as a result of the closing of a Transaction Event.

13 
 

 

“Transaction Event” shall mean either of:

(a) The sale by the Company of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

The issuance of the Note amounted in a beneficial conversion feature of $9,900 which is amortized under the Interest Method over the life of the Note. As of September 30,2021 the unamortized discount on the convertible note outstanding is $0. December 31,2021 $50,000 of the principal amount of the Note remains outstanding.

On October 31, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is two years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at a conversion price of $0.0125 per share.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

The issuance of the Note amounted in a beneficial conversion feature of $50,000 which is amortized under the Interest Method over the life of the Note. As of September 30,2021 the unamortized discount on the convertible note outstanding is $0. As of December 31,2021 $50,000 of the principal amount of the Note remains outstanding.

On October 31, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is two years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at a conversion price of $0.0125 per share.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

The issuance of the Note amounted in a beneficial conversion feature of $50,000 which is amortized under the Interest Method over the life of the Note. As of September 30,2021 the unamortized discount on the convertible note outstanding is $ 0 As of December 31,2021 $50,000 of the principal amount of the Note remains outstanding.

On October 31, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is two years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at a conversion price of $0.0125 per share.

14 
 


The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

The issuance of the Note amounted in a beneficial conversion feature of $50,000 which is amortized under the Interest Method over the life of the Note. As of September 30,2021 the unamortized discount on the convertible note outstanding is $0. As of December 31 ,2021 $50,000 of the principal amount of the Note remains outstanding.

March 13, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is February 24, 2020. All or part of the principal is convertible at any time at the demand of the Lender into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.0125 per common share.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.05 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note.

As of December 31,2021 $50,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $204,082 was recognized by the Company as of December 31, 2021. The issuance of the Note amounted in a discount of $50,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

15 
 

 

On March 31, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is March 31, 2020. All or part of the principal is convertible at any time at the demand of the Lender into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.0125 per common share.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.05 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)

In the event part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note. As of December 31 ,2021 $50,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $204,082 was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $50,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

On April 19, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is April 19, 2020. All or part of the principal is convertible at any time at the demand of the Lender into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.0125 per common share.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.05 per share.

16 
 

 

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31,2021 $50,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $204,082 was recognized by the Company as of September 30,2021. The issuance of the Note amounted in a discount of $50,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

On May 5, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $200,000 for consideration consisting of $200,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is May 5, 2020. The Note is convertible into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iii) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

17 
 

 

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.05 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31,2021 $200,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $816,327 was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $200,000 which is amortized under the Interest Method over the life of the Note. As of December 31 ,2021 the unamortized discount on the convertible note outstanding is $0.

On June 26, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $150,000 for consideration consisting of $150,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is June 16, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

18 
 

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31,2021 $150,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $612,245 was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $150,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

19 
 


On September 25, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is September 25, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.0125 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party 

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31, 2021 $50,000 of the principal amount of the Note remains outstanding.

20 
 

 

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $204,082 was recognized by the Company as of December 31, 2021. The issuance of the Note amounted in a discount of $50,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

On October 3, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is October 3, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

21 
 

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31,2021, $50,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $204,082 was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $50,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

On October 16, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $100,000 for consideration consisting of $100,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is October 9, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction. 

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

22 
 


Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31,2021 $100,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $408,163 was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $100,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

23 
 


On November 1, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $25,000 for consideration consisting of $25,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is November 1, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note. 

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

24 
 

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31,2021 $25,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $102,041 was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $25,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

On November 1, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $25,000 for consideration consisting of $25,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is November 1, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party.

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property.

25 
 

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31,2021 $25,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $102,041 was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $25,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

On December 20, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $100,000 for consideration consisting of $100,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is December 20, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

26 
 

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31,2021 $100,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $408,163 was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $100,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

27 
 

 

On February 28, 2018 (“Issue date”) the Company issued a two Convertible Notes (“Notes”) in the aggregate face amount of $100,000 for consideration consisting of $100,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Notes is February 28, 2021. The Notes may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of these Notes, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note. 

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Notes in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the notes, or if the Lender chooses not to convert the remaining amount of the notes into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Notes into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Notes on or prior to the close of business on the three (3) month anniversary of the date that the Notes shall have been prepaid by the Company (“Prepayment Date”).

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Notes, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Notes.

28 
 

As of December 31,2021 $100,000 of the principal amount of the Notes remains outstanding.

The Company analyzed the conversion feature of the Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $408,163 was recognized by the Company as of December 31,2021. The issuance of the Notes amounted in a discount of $100,000 which is amortized under the Interest Method over the life of the Notes. As of December 31,2021 the unamortized discount on the convertible notes outstanding is $0.

On July 11, 2018 the Company issued a Convertible Note (“Note”) in the face amount of $11,500 to an entity controlled by the Company’s then Chief Financial Officer for consideration consisting of $11,500 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is May 4, 2021. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.01 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

 (b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

29 
 

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.01 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note.

As of December 31,2021 $11,500 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $46,938 was recognized by the Company as of December 31,2021. The issuance of the Notes amounted in a discount of $11,500 which is amortized under the Interest Method over the life of the Notes. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

On September 30, 2018 Regen Biopharma, Inc. (“Regen”) issued a convertible promissory note in the principal amount of $350,000 (“Note”) to Zander Therapeutics, Inc. (“Zander”). Consideration for the Note consisted of $350,000. A onetime interest charge of 10% of the principal amount shall be applied to the principal amount of the Note. The Note is due and payable 24 months from the effective date.

Zander has the right, at any time after the September 30, 2018, at its election, to convert all or part of the outstanding and unpaid Principal Sum and accrued interest (and any other fees) into shares of fully paid and non-assessable shares of Series A Preferred stock of Regen as per this conversion formula: Number of shares receivable upon conversion equals the dollar conversion amount divided by the Conversion Price. The Conversion Price is the greater of $0.0001 or 60% of the lowest trade price in the 25 trading days previous to the conversion. Zander, at any time prior to selling all of the shares from a conversion, may, for any reason, rescind any portion, in whole or in part, of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the Principal Sum with the rescinded conversion shares returned to Regen.

As of December 31, 2021, 10,000 of the principal amount of the Note remains outstanding.

30 
 

The issuance of the Note amounted in a beneficial conversion feature of $350,000 which is amortized under the Interest Method over the life of the Note. As of December 31 2021 the unamortized discount on the convertible note outstanding is $0.

Zander and Regen are under common control. Zander Therapeutics, Inc. is the sole licensee of Regen's NR2F6 intellectual property for veterinary applications. 

On July 19, 2019 the Company issued a convertible promissory note in the face amount of $100,000 (“Note”) for consideration consisting of:

$95,000 cash

the payment of $5,000 of legal fees

The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is July 19, 2020. The Note may be converted into the common stock of Regen at a price per share ( “Conversion Price”) equivalent to 60% of the lowest Trading price of the common stock of the Company as reported on the National Quotations Bureau OTC Markets exchange upon which the Company's shares are traded or any exchange upon which the Common Stock of the Company may be traded in the future , for the twenty prior trading days including the day upon which a Notice of Conversion is received by the Company or its transfer agent. . In no event shall the Holder be allowed to effect a conversion if such conversion, along with all other shares of Company common stock beneficially owned by the Holder and its affiliates would exceed 9.9% of the outstanding shares of the Common Stock of the Company.

The proceeds from the issuance of the Note are to be allocated as follows:

$30,592 will be utilized to retire the outstanding balance of a $75,000 note issued by the Company on August 15, 2018 to One44 capital, LLC and $22,877 will be allocated to the Company’s accountants and auditors to bring the Company current with regards to the Company’s quarterly reporting requirements under the Securities and Exchange Act of 1934.

The Note may be prepaid with the following penalties:

Time Period  Payment Premium
<=60 days after note issuance  125% of the sum of principal  plus accrued interest
>60 days <= 120 days after note issuance  135% of the sum of principal  plus accrued interest
>120 days <=180 days  after note issuance  140% of the sum· of principal plus accrued· interest

This Note may not be prepaid after the 180th day.

As of December 31,2021 $1,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $3,048 was recognized by the Company as of December 31,2021.

The issuance of the Note amounted in a discount of $100,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

31 
 

NOTE 6. RELATED PARTY TRANSACTIONS

On June 23, 2015 the Company entered into an agreement (“Agreement”) with Zander Therapeutics, Inc. ( “Zander”) whereby The Company granted to Zander an exclusive worldwide right and license for the development and commercialization of certain intellectual property controlled by The Company (” License IP”) for non-human veterinary therapeutic use for a term of fifteen years. Zander is under common control with the Company.

Pursuant to the Agreement, Zander shall pay to The Company one-time, non-refundable, upfront payment of one hundred thousand US dollars ($100,000) as a license initiation fee which must be paid within 90 days of June 23, 2015 and an annual non-refundable payment of one hundred thousand US dollars ($100,000) on July 15th, 2016 and each subsequent anniversary of the effective date of the Agreement.

The abovementioned payments may be made, at Zander’s discretion, in cash or newly issued common stock of Zander.

Pursuant to the Agreement, Zander shall pay to The Company royalties equal to four percent (4%) of the Net Sales , as such term is defined in the Agreement, of any Licensed Products, as such term is defined in the Agreement, in a Quarter.

Pursuant to the Agreement, Zander will pay The Company ten percent (10%) of all consideration (in the case of in-kind consideration, at fair market value as monetary consideration) received by Zander from sublicensees ( excluding royalties from sublicensees based on Net Sales of any Licensed Products for which The Company receives payment pursuant to the terms and conditions of the Agreement).

Zander is obligated pay to The Company minimum annual royalties of ten thousand US dollars ($10,000) payable per year on each anniversary of the Effective Date of this Agreement, commencing on the second anniversary of June 23, 2015. This minimum annual royalty is only payable to the extent that royalty payments made during the preceding 12-month period do not exceed ten thousand US dollars ($10,000).

The Agreement may be terminated by The Company:

If Zander has not sold any Licensed Product by ten years of the effective date of the Agreement or Zander has not sold any Licensed Product for any twelve (12) month period after Zander’s first commercial sale of a Licensed Product.

The Agreement may be terminated by Zander with regard to any of the License IP if by five years from the date of execution of the Agreement a patent has not been granted by the United States patent and Trademark Office to The Company with regard to that License IP.

The Agreement may be terminated by Zander with regard to any of the License IP if a patent that has been granted by the United States patent and Trademark Office to The Company with regard to that License IP is terminated.

The Agreement may be terminated by either party in the event of a material breach by the other party.

32 
 

On December 17, 2018 Regen Biopharma, Inc.(“Licensor”) , KCL Therapeutics, Inc. (“Assignee”) and Zander Therapeutics, Inc. (“Licensee”) entered into a LICENSE ASSIGNMENT AND CONSENT AGREEMENT whereby, with regards to certain intellectual property which was assigned by Regen Biopharma, Inc.(“Assigned Properties”) to its wholly owned subsidiary KCL Therapeutics, Inc., Licensor hereby transfers and assigns to Assignee all rights, duties, and obligations of Licensor under the Agreement with respect to the Assigned Properties , and Assignee agrees to assume such duties and obligations thereunder and be bound to the terms of the Agreement with respect thereto.

On December 16, 2019 Zander Therapeutics, Inc. (“Zander”), KCL Therapeutics, Inc. (“KCL”) and Regen Biopharma, Inc. (“Regen”) entered into an agreement (“Agreement”) whereby:

1) Zander shall return for cancellation 194,285,714 shares of the Series A Preferred stock of Regen (“Conversion Shares”) acquired by Zander through conversion of $340,000 of principal indebtedness of a $350,000 convertible note payable issued by Regen to Zander. Subsequent to this event the principal amount due to Zander by Regen pursuant to the Convertible Note shall be $350,000 which shall be applied pursuant to the Agreement.

2) A $35,000 one time charge due to Zander by Regen (“One Time Charge”) shall be applied pursuant to the Agreement.

3) $75,900 of principal indebtedness due to Regen by Zander and $4,328 of accrued but unpaid interest due by Regen to Zander shall be applied pursuant to the Agreement.

No actions were taken by any of the parties to enforce the terms of the Agreement.

On April 15, 2021 the Agreement was amended as follows so that the material terms and conditions shall be:

a) Zander shall not return the Conversion shares for cancellation and the principal indebtedness of the aforementioned convertible note shall not reflect such return

b) As of December 16, 2019 all principal and accrued interest payable by Regen to Zander on that date resulting from Promissory Notes issued by Regen to Zander shall be credited towards amounts due by Zander pursuant to that agreement, as amended, entered into by and between Zander and Regen on June 23, 2015 (“License Agreement”) whereby Regen granted to Zander an exclusive worldwide right and license for the development and commercialization of certain intellectual property controlled by Regen for non-human veterinary therapeutic use for a term of fifteen years and that License Assignment And Consent agreement entered into by and between Regen, KCL and Zander on December 17, 2018 whereby Regen transferred and assigned to KCL all rights, duties, and obligations of Regen under the License Agreement and KCL agreed to assume such duties and obligations thereunder and be bound to the terms of the License Agreement with respect thereto.

Zander and Regen are under common control.

On September 30, 2018 Regen Biopharma, Inc. (“Regen”) issued a convertible promissory note in the principal amount of $350,000 (“Note”) to Zander Therapeutics, Inc. (“Zander”). Consideration for the Note consisted of $350,000. A onetime interest charge of 10% of the principal amount shall be applied to the principal amount of the Note. The Note is due and payable 24 months from the effective date.

Zander has the right, at any time after the September 30, 2018, at its election, to convert all or part of the outstanding and unpaid Principal Sum and accrued interest (and any other fees) into shares of fully paid and non-assessable shares of Series A Preferred stock of Regen as per this conversion formula: Number of shares receivable upon conversion equals the dollar conversion amount divided by the Conversion Price. The Conversion Price is the greater of $0.0001 or 60% of the lowest trade price in the 25 trading days previous to the conversion. Zander, at any time prior to selling all of the shares from a conversion, may, for any reason, rescind any portion, in whole or in part, of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the Principal Sum with the rescinded conversion shares returned to Regen.

As of September 30, 2021, $10,000 of the principal amount of the Note remains outstanding.

33 
 

During the quarter ended June 30, 2021 Zander Therapeutics, Inc. issued a promissory note in the amount of $5,396 to the Company as consideration for expenses of Zander Therapeutics Inc., paid by the Company. The Note is payable on demand of the Holder and bears simple interest at 10% per annum.

On October 8,2021 the Company entered into an agreement with Dr. Brian Koos, MD PhD whereby Dr. Brian Koos would provide services to the Company consisting of :

a)       Reviewing existing publications on research being conducted on Checkpoint NR2F6.

b)       Identifying the most promising applications for the Company’s technology

c)       Drafting a “white paper” on results for 1(b)

d)       Making introductions to known experts in appropriate fields identified in 1(b).

Dr. Brian Koos is to be paid compensated $117,000 as total consideration for performing the abovementioned tasks. During the quarter ended December 31, 2021 Dr. Brian Koos was paid the amount of $80,275. Dr. Brian Koos is the brother of David Koos the Chairman and Chief Executive Officer of the Company.

As of December 31, 2021 the Company is indebted to David R. Koos the Company’s sole officer and director in the amount of $227. $227 lent to the Company by Koos is due and payable at the demand of the holder and bear simple interest at a rate of 15% per annum.

During the quarter ended December 31, 2021 the Company paid $5,000 of rental expenses to the landlord of BST Partners as consideration to BST Partners for use of office space. BST Partners is controlled by David R. Koos the Chairman and Chief Executive Officer of the Company.

On January 13, 2022 Regen Biopharma, Inc. entered into a sublease agreement with BST Partners (“BST”) whereby Regen Biopharma, Inc. would sublet office space located at 4700 Spring Street, Suite 304, La Mesa, California 91942 from BST on a month to month basis for $5,000 per month beginning January 14, 2022.

BST Partners is controlled by David Koos who serves as the sole officer and director of Regen Biopharma, Inc.

NOTE 7. ACCOUNTS RECEIVABLE, RELATED PARTY

Accounts Receivable due from Related Party as of December 31, 2021 consists solely of amounts earned by the Company not yet paid resulting from the Company’s license agreement with KCL Therapeutics (See Note 6).

34 
 

NOTE 8. STOCKHOLDERS’ EQUITY

The stockholders’ equity section of the Company contains the following classes of capital stock as of December 31 2021:

Common stock, $ 0.0001 par value; 4,800,000,000 shares authorized: 4,564,002,832  shares issued and outstanding.

With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Common Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Common Stock owned by such holder times one (1).

On any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of the Common Stock shall receive, out of assets legally available for distribution to the Company’s stockholders, a ratable share in the assets of the Corporation.

Preferred Stock, $0.0001 par value, 800,000,000 shares authorized of which 600,000 is designated as Series AA Preferred Stock: 50,000 shares issued and outstanding as of December 31,2021, 300,000,000 is designated Series A Preferred Stock of which 439,293,406 shares are outstanding as of December 31,2021, 300,000,000 is designated Series M Preferred Stock of which 44,000,000 shares are outstanding as of December 31,2021, and 20,000 is designated Series NC stock of which 10,000 shares are outstanding as of December 31, 2021. . 

The abovementioned shares authorized pursuant to the Company’s certificate of incorporation may be issued from time to time without prior approval of the shareholders. The Board of Directors of the Company shall have the full authority permitted by law to establish one or more series and the number of shares constituting each such series and to fix by resolution full or limited, multiple or fractional, or no voting rights, and such designations, preferences, qualifications, restrictions, options, conversion rights and other special or relative rights of any series of the Stock that may be desired.

Series AA Preferred Stock

On September 15, 2014 the Company filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series AA Preferred Stock” (hereinafter referred to as “Series AA Preferred Stock”).

The Board of Directors of the Company have authorized 600,000 shares of the Series AA Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Series AA Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series AA Preferred Stock owned by such holder times ten thousand (10,000). Except as otherwise required by law holders of Common Stock, other series of Preferred issued by the Corporation, and Series AA Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

Series A Preferred Stock

On January 15, 2015 the Company filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series A Preferred Stock” (hereinafter referred to as “Series A Preferred Stock”).

The Board of Directors of the Company have authorized 300,000,000 shares of the Series A Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Series A Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series A Preferred Stock owned by such holder times one . Except as otherwise required by law holders of Common Stock, other series of Preferred issued by the Corporation, and Series A Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

35 
 

Holders of the Series A Preferred Stock will be entitled to receive, when, as and if declared by the board of directors of the Company (the “Board”) out of funds legally available therefore, non-cumulative cash dividends of $0.01 per quarter. In the event any dividends are declared or paid or any other distribution is made on or with respect to the Common Stock , the holders of Series A Preferred Stock as of the record date established by the Board for such dividend or distribution on the Common Stock shall be entitled to receive, as additional dividends (the “Additional Dividends”) an amount (whether in the form of cash, securities or other property) equal to the amount (and in the form) of the dividends or distribution that such holder would have received had each share of the Series A Preferred Stock been one share of the Common Stock, such Additional Dividends to be payable on the same payment date as the payment date for the Common Stock.

Upon any liquidation, dissolution, or winding up of the Company, whether voluntary or involuntary (collectively, a “Liquidation”), before any distribution or payment shall be made to any of the holders of Common Stock or any other series of preferred stock, the holders of Series A Preferred Stock shall be entitled to receive out of the assets of the Company, whether such assets are capital, surplus or earnings, an amount equal to $0.01 per share of Series A Preferred (the “Liquidation Amount”) plus all declared and unpaid dividends thereon, for each share of Series A Preferred held by them.

If, upon any Liquidation, the assets of the Company shall be insufficient to pay the Liquidation Amount, together with declared and unpaid dividends thereon, in full to all holders of Series A Preferred, then the entire net assets of the Company shall be distributed among the holders of the Series A Preferred, ratably in proportion to the full amounts to which they would otherwise be respectively entitled and such distributions may be made in cash or in property taken at its fair value (as determined in good faith by the Board), or both, at the election of the Board. 

On January 10, 2017 Regen Biopharma, Inc. (“Regen”) filed a CERTIFICATE OF DESIGNATION ("Certificate of Designations") with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as "Series M Preferred Stock" (hereinafter referred to as "Series M Preferred Stock").

The Board of Directors of Regen have authorized 300,000,000 shares of the Series M Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of Regen, each holder of Series M Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series M Preferred Stock owned by such holder times one. Except as otherwise required by law holders of Common Stock, other series of Preferred issued by Regen, and Series M Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

The holders of Series M Preferred Stock shall be entitled receive dividends, when, as and if declared by the Board of Directors in accordance with Nevada Law, in its discretion, from funds legally available therefore

On any voluntary or involuntary liquidation, dissolution or winding up of Regen, the holders of the Series M Preferred Stock shall receive, out of assets legally available for distribution to Regen’s stockholders, a ratable share in the assets of Regen.

On March 26, 2021 Regen Biopharma, Inc. ( “Regen”) filed a CERTIFICATE OF DESIGNATION ("Certificate of Designations") with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as Nonconvertible Series NC Preferred Stock (hereinafter referred to as "Series NC Preferred Stock").

The Board of Directors of Regen have authorized 20,000 shares of the Series NC Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of Regen, each holder of Series NC Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series NC Preferred Stock owned by such holder times 500,000. Except as otherwise required by law holders of Common Stock, other series of Preferred issued by Regen, and Series NC Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

36 
 

The holders of Series NC Preferred Stock shall be entitled receive dividends, when, as and if declared by the Board of Directors in accordance with Nevada Law, in its discretion, from funds legally available therefore

On any voluntary or involuntary liquidation, dissolution or winding up of Regen, the holders of the Series NC Preferred Stock shall receive, out of assets legally available for distribution to Regen’s stockholders, a ratable share in the assets of Regen. 

NOTE 9. INVESTMENT SECURITIES, RELATED PARY

On June 11, 2018 Regen Biopharma, Inc. was paid a property dividend consisting of 470,588 of the common shares of Zander Therapeutics, Inc.

On November 29, 2018 the Company accepted 725,000 shares of the Series M Preferred stock of Zander Therapeutics, Inc. in satisfaction of prepaid rent and accrued interest owed to the Company collectively amounting to $13,124.

On December 31,2021 the Company revalued 470,588 of the common shares of Zander Therapeutics, Inc. and 725,000 shares of the Series M Preferred stock of Zander Therapeutics, Inc. based on the following inputs:

     
Fair Value of Intellectual Property  $1,500 
Prepaid Expenses   74,298 
Due from Employee   1,071 
Note Receivable   64,400 
Accrued Interest Receivable   20,274 
Investment Securities   593,357 
Convertible Note Receivable   10,000 
Accounts Payable   1,269,041 
Notes Payable   500,000 
Accrued Expenses Related Parties   89,529 
Accrued Expenses   203,037 
Enterprise Value   2,826,507 
Less: Total Debt   (2,061,607)
Portion of Enterprise Value Attributable to Shareholders   764,900 
Fair Value  Per Share  $0.0167 

The abovementioned constitute the Company’s sole related party investment securities as of December 31, 2021 

As of December 31, 2021:

               
470,588 Common Shares of Zander Therapeutics, Inc.
              
 Basis     Fair Value    

Total Unrealized Gains

  Net Unrealized Gain or (Loss) realized during the quarter   ended December 31,2021
$5,741    $7,858   $2,118  $ 0

 

725,000 Series M Preferred of Zander Therapeutics, Inc.
              
 Basis     Fair Value    Total Unrealized Loss  Net Unrealized Gain or (Loss) realized during the quarter  ended September 30,2021
$13,124    $12,109   $(1,104) $ 0

 

NOTE 10. INVESTMENT SECURITIES

During the quarter ended June 30, 2021 the Company was paid 50,000 common shares of Oncology Pharma, Inc. pursuant to an agreement entered into by and between KCL Therapeutics, Inc. ( a wholly owned subsidiary of the Company) and Oncology Pharma, Inc. whereby Oncology Pharma, Inc. was granted a license for the development and commercialization of certain intellectual property (“License IP”) for the treatment in humans of colon cancer for a term of fifteen years from April 7, 2021.

During the quarter ended June 30, 2021 13,000 of the aforementioned common shares were sold to an unrelated party for $300,000 cash.

During the quarter ended September 30, 2021 18,000 of the aforementioned common shares were sold to an unrelated party for $195,000 cash.

As of December 31, 2021 18,300 common shares of Oncology Pharma, Inc. constitute the sole investment securities other than shares of Zander Therapeutics, Inc. held by the Company.

On December 31,2021 the Company revalued 18,300 common shares of Oncology Pharma, Inc. at the closing price of the common shares on the OTC Pink market.

As of December 31, 2021:

                     
18,300 Common Shares of Oncology Pharma, Inc.
                     
  Basis       Fair Value       Total Unrealized Losses   Net Unrealized Gain or (Loss) realized during the quarter    ended December 31,2021
$ 677,100     $ 74,115     $ 602,985   $ (123,891)  

37 
 

NOTE 12. STOCK TRANSACTIONS

On October 1, 2021 the Company issued 101,718,058 common shares in satisfaction of $425,000 of convertible indebtedness and $154,991 of accrued interest on convertible indebtedness.

On October 1, 2021 the Company issued 5,869,589 shares of Series A Preferred stock in satisfaction of $50,000 of convertible indebtedness and $23,369 of accrued interest on convertible indebtedness.

On October 29, 2021 the Company issued 25748147 common shares in satisfaction of $140,000 of convertible indebtedness and $54,000 of accrued interest on convertible indebtedness.

On November 4 , 2021 the Company issued 8626613 common shares in satisfaction of $50,000 of convertible indebtedness and $69,012 of accrued interest on convertible indebtedness.

On November 24, 2021 the Company issued 77355500 common shares in satisfaction of $95,964 of convertible indebtedness and $36,967 of accrued interest on convertible indebtedness.

On December 10 2021 the Company issued 1,425,000 shares of Series A Preferred stock in satisfaction of $25,000 of convertible indebtedness and $10,625 of accrued interest on convertible indebtedness.

NOTE 13. SUBSEQUENT EVENTS

On January 13, 2022 Regen Biopharma, Inc. entered into a sublease agreement with BST Partners (“BST”) whereby Regen Biopharma, Inc. would sublet office space located at 4700 Spring Street, Suite 304, La Mesa, California 91942 from BST on a month to month basis for $5,000 per month beginning January 14, 2022.

BST Partners is controlled by David Koos who serves as the sole officer and director of Regen Biopharma, Inc.

 

38 
 

Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

CERTAIN FORWARD-LOOKING INFORMATION

 

Information provided in this Quarterly report on Form 10Q may contain forward-looking statements within the meaning of Section 21E or Securities Exchange Act of 1934 that are not historical facts and information. These statements represent the Company’s expectations or beliefs, including, but not limited to, statements concerning future and operating results, statements concerning industry performance, the Company’s operations, economic performance, financial conditions, margins and growth in sales of the Company’s products, capital expenditures, financing needs, as well assumptions related to the forgoing. For this purpose, any statements contained in this Quarterly Report that are not statement of historical fact may be deemed to be forward-looking statements. These forward-looking statements are based on current expectations and involve various risks and uncertainties that could cause actual results and outcomes for future periods to differ materially from any forward-looking statement or views expressed herein. The Company’s financial performance and the forward-looking statements contained herein are further qualified by other risks including those set forth from time to time in the documents filed by the Company with the Securities and Exchange Commission. All references to” We”, “Us”, “Company” or the “Company” refer to Regen BioPharma, Inc.

As of September 30, 2021 we had Cash of $727,162 and as of December 31,2021 we had cash of $353,492.The decrease in cash of approximately 51.39% is primarily attributable to the payment of $218,529 in satisfaction $94,537 of convertible indebtedness and $28,973 of accrued interest on convertible indebtedness offset by funds expended in operation of the Company’s business.

As of September 30, 2021 we had Accounts Receivable, Related Party of $213,192 and as of December 31, 2021 we had Accounts Receivable, Related Party of $ 240,617. The increase of approximately 12.9% is attributable to the accrual during the quarter ended December 31,2021 of $27,425 of minimum royalties and anniversary fees pursuant to a license granted to Zander Therapeutics, Inc. by Regen Biopharma, Inc.

As of September 30, 2021 we had Prepaid Expenses of $48,144 and as of December 31, 2021 we had prepaid expenses of $41,288. The decrease in Prepaid Expenses of approximately 14.24% is attributable to the recognition of expenses incurred over the quarter resulting from an agreement to provide Research and Development services which was prepaid during the quarter ended September 30, 2021. The term of the agreement is from July 1, 2021 to July 1, 2023. The total consideration due of $55,000 was paid to the contractor as of July 1, 2021 and is being expensed over the term of the agreement.

As of December 31 , 2021 we had Investment Securities ( Not Related Party) of $74,115 and as of September 30,2021 we had Investment Securities (Not Related Party) of $198,006. As of December 31, 2021 18,300 common shares of Oncology Pharma, Inc. constitute the sole investment securities other than shares of Zander Therapeutics, Inc. held by the Company. On December 31, 2021 the Company revalued 18,300 common shares of Oncology Pharma, Inc. at the closing price of the common shares on the OTC Pink market resulting in the recognition of a decrease in fair value of 62.5% as compared to September 30, 2021.

As of December 31, 2021 we had Accounts Payable of $32,288 and as of September 30, 2021 we had Accounts Payable of $91,498. The decrease in Accounts Payable of approximately 64.91% is primarily attributable to the derecognition of $62,700 of payables for which recovery is barred by the statute of limitations imposed under California Code of Civil Procedure §337.

As of December 31, 2021 we had Accrued Interest Payable of $661,934 and as of September 30, 2021 we had Accrued Interest Payable of $954,861.

 

The decrease in Accrued Interest Payable of approximately 30.68% is attributable to the conversion during the quarter ended December 31, 2021 of $298,964 of interest accrued but unpaid on Convertible Notes issued by the Company and the satisfaction of $28,973 of interest accrued but unpaid in cash offset by additional interest accrued but unpaid during the quarter ended December 31, 2021 on Notes Payable and Convertible Notes Payable.

 

39 
 

 

As of December 31, 2021 we had a Derivative Liability of $3.927,538 and as of September 30, 2021 we had a Derivative Liability of $6,892,477. The decrease in Derivative Liability of approximately 43% is attributable to the recognition by the Company of embedded derivatives on Convertible Notes Payable with an aggregate face value of $962,500 outstanding as of December 31, 2021.

As of December 31, 2021 we had Convertible Notes Payable of $1,272,310 as opposed to Convertible Notes Payable of $2,152,811 as of September 30, 2021. The decrease of 40.7% is attributable to :

(a)the conversion of $785,964 of principal convertible indebtedness into the equity securities of the Company
(b)the satisfaction of $94,537 of principal convertible indebtedness in cash.

. Material Changes in Results of Operations

Revenues from continuing operations were $59,065 for the quarter ended December 31,2021 and $27,425 for the same period ended 2020. The increase of approximately 115% is attributable to $31,640 of revenue recognized during the quarter ended December 31, 2021 pursuant to a license granted to Oncology Pharma,Inc. Operating Loss was $106,423 for the quarter ended December 31,2021 whereas Operating Loss was $18,480 for the same quarter ended 2020; an increase primarily attributable to revenue recognized during the quarter ended June 30,2021 pursuant to a license granted to Oncology Pharma Inc. as well as materially lower operating expenses recognized during the quarter ended December 31,2020 as compared to December 31,2021.

Net Income was $ 2,644,980 for the quarter ended December 30, 2021 versus Net Income of $1,666,367 recognized during the same period ended 2020. This was primarily attributable to greater Derivative income recognized during the quarter ended December 31, 2021 as compared to the same quarter ended 2020.

As of December 31, 2021 we had $353,492 in cash on hand and current liabilities of $10.491,210 such liabilities consisting of Accounts Payable, Notes Payable, Convertible Notes Payable , Derivative Liability Recognized, bank overdraft Unearned Income and Accrued Expenses. We feel we will not be able to satisfy our cash requirements over the next twelve months and shall be required to seek additional financing.

As of December 31, 2021 the Company was not party to any binding agreements which would commit Regen to any material capital expenditures.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

As a smaller reporting company, as defined by Rule 229.10(f) (1) of Regulation S-K, we are not required to provide the information required by this Item. We have chosen to disclose, however, that we have not engaged in any transactions, issued or bought any financial instruments or entered into any contracts that are required to be disclosed in response to this item.

Item 4. Controls and Procedures.

 

Evaluation of Disclosure Controls and Procedures

 

As of the end of the period covered by this report, the Company carried out an evaluation, under the supervision and with the participation of David Koos, who is the Company’s Principal Executive Officer and Principal Financial Officer of the effectiveness of the design and operation of the Company’s disclosure controls and procedures. The Company’s disclosure controls and procedures are designed to provide a reasonable level of assurance of achieving the Company’s disclosure control objectives. The Company’s Principal Executive Officer and Principal Financial Officer have concluded that the Company’s disclosure controls and procedures are, in fact, effective at this reasonable assurance level as of the period covered.

Changes in Internal Controls over Financial Reporting

In connection with the evaluation of the Company’s internal controls during the period commencing on October 1, 2021 and ending on December 31, 2021, David Koos, who serves as the Company’s Principal Executive Officer , Principal Financial Officer has determined that there were no changes to the Company’s internal controls over financial reporting that have been materially affected, or is reasonably likely to materially effect, the Company’s internal controls over financial reporting.

40 
 

PART II - OTHER INFORMATION

 

Item 1. Legal Proceedings.

None

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

On October 1, 2021 the Company issued 101,718,058 common shares in satisfaction of $425,000 of convertible indebtedness and $154,991 of accrued interest on convertible indebtedness.

On October 1, 2021 the Company issued 5,869,589 shares of Series A Preferred stock in satisfaction of $50,000 of convertible indebtedness and $23,369 of accrued interest on convertible indebtedness.

On October 29, 2021 the Company issued 25748147 common shares in satisfaction of $140,000 of convertible indebtedness and $54,000 of accrued interest on convertible indebtedness.

On November 4, 2021 the Company issued 8626613 common shares in satisfaction of $50,000 of convertible indebtedness and $69,012 of accrued interest on convertible indebtedness.

On November 24, 2021 the Company issued 77355500 common shares in satisfaction of $95,964 of convertible indebtedness and $36,967 of accrued interest on convertible indebtedness.

On December 10 2021 the Company issued 1,425,000 shares of Series A Preferred stock in satisfaction of $25,000 of convertible indebtedness and $10,625 of accrued interest on convertible indebtedness.

All the abovementioned securities were issued pursuant to Section 4(a) (2) of the securities Act of 1933, as amended (the “Act”). No underwriters were retained to serve as placement agents for the sale. The securities were sold directly through our management. No commission or other consideration was paid in connection with the sale of the securities. There was no advertisement or general solicitation made in connection with this Offer and Sale of securities.

Item 3. DEFAULTS UPON SENIOR SECURITIES

 

None.

  

Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

 

None.

 

Item 5. OTHER INFORMATION

 

None.

 

Item 6. Exhibit Index

31.1 CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 302 OF THE SARBANESE-OXLEY ACT OF 2002
31.2 CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 302 OF THE SARBANESE-OXLEY ACT OF 2002
32.1 CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO 18 U.S.C SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
32.2 CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO 18 U.S.C SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
10. 1 SUBLEASE*

* Incorporated by reference to Exhibit 10.1 of that Current Report on Form 8-K filed 1/14/2022

41 
 

SIGNATURES

 

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    Regen Biopharma, Inc.
     
  By: /s/ David R. Koos
  Name: David R. Koos
  Title: Chairman, Chief Executive Officer
  Date:  January 20, 2022

 

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    Regen Biopharma, Inc.
     
  By: /s/ David R. Koos
  Name: David R. Koos
  Title: Acting Chief Financial Officer, Director
  Date:  January 20, 2022

 

42 
 

EX-31.1 2 ex31_1.htm EXHIBIT 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

 

I, David R. Koos, certify that:

1. I have reviewed this quarterly report on Form 10-Q for the period ended December 31, 2021 of Regen Biopharma, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant’s, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; 

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles:

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.  

 

 Dated: January 20, 2022   By: /s/ David R. Koos
      David R. Koos
      Chief Executive Officer

 

 

EX-31.2 3 ex31_2.htm EXHIBIT 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

 

I, David R. Koos certify that:

1. I have reviewed this quarterly report on Form 10-Q for the period ended December 31, 2021 of Regen Biopharma, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant’s, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles:

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and 

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. 

 

 

 Dated: January 20, 2022   By: /s/ David R. Koos
      David R. Koos
      Chief Financial Officer

 

EX-32.1 4 ex32_1.htm EXHIBIT 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of Regen Biopharma, Inc. on Form 10-Q for the period ended December 31, 2021 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, David R. Koos, Chief Financial Officer certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.   

 

 

 Dated: January 20, 2022   By: /s/ David R. Koos
      David R. Koos
      Chief Executive Officer

 

 

EX-32.2 5 ex32_2.htm EXHIBIT 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of Regen Biopharma, Inc. on Form 10-Q for the period ended December 31, 2021 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, David R. Koos, Chief Financial Officer certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. 

 

 Dated: January 20, 2022   By: /s/ David R. Koos
      David R. Koos
      Chief Financial Officer

 

 

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Entity Registrant Name REGEN BIOPHARMA, INC  
Entity Central Index Key 0001589150  
Entity Tax Identification Number 45-5192997  
Entity Incorporation, State or Country Code NV  
Entity Address, Address Line One 4700 Spring Street  
Entity Address, Address Line Two  St 304  
Entity Address, City or Town La Mesa  
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Dec. 31, 2021
Sep. 30, 2021
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Accounts Receivable, Related Party 240,617 213,192
Note Receivable, Related Party 5,396 5,396
Accrued Interest Receivable 365 230
Prepaid Expenses 41,288 48,144
     Total Current Assets 641,157 994,124
OTHER ASSETS    
Investment Securities 74,115 198,006
Investment Securities, Related Party 19,969 19,969
Total Other Assets 94,084 217,975
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Current Liabilities:    
Accounts payable 32,288 91,498
Notes Payable 1,451,630 1,429,179
Accrued payroll taxes 4,241 4,241
Accrued Interest 661,934 954,861
Accrued Rent 0 0
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Bank Overdraft 1,000 1,000
Due to Investor 20,000 20,000
Unearned Income 1,812,166 1,843,806
Derivative Liability 3,927,538 6,892,477
Convertible Notes Payable Less  unamortized discount 1,262,310 2,131,311
Convertible Notes Payable, Related Parties Less  unamortized discount 10,000 21,500
Total Current Liabilities 10,491,210 14,697,976
Long Term Liabilities:    
Convertible Notes Payable, Related Parties Less  unamortized discount   0
Total Liabilities 10,491,210 14,697,976
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Preferred Stock, Value, Issued
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Contributed Capital 736,326 736,326
Retained Earnings (Deficit) (20,703,920) (23,348,900)
Total Stockholders' Equity (Deficit) (9,755,969) (13,485,877)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) 735,241 1,212,099
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STOCKHOLDERS' EQUITY (DEFICIT)    
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3 Months Ended
Dec. 31, 2021
Dec. 31, 2020
REVENUES    
Revenues $ 31,640
Revenues, Related Party 27,425 27,425
TOTAL REVENUES 59,065 27,425
COST AND EXPENSES    
Research and Development 35,418 1,127
Research and Development, Related Party 80,275 0
General and Administrative 6,658 44,778
Consulting and Professional Fees 38,136 0
Rent 5,000 0
Total Costs and Expenses 165,487 45,905
OPERATING INCOME (LOSS) (106,423) (18,480)
OTHER INCOME & (EXPENSES)    
Interest Income 135 0
Interest Expense (35,010) (73,212)
Interest Expense attributable to Amortization of Discount (22,451) (36,717)
Unrealized Gain ( Loss) on sale of Investment Securities (123,891) 0
Gain (Loss) on derecognition of Accounts Payable 62,700 0
Derivative Income (Expense) 2,964,939 1,794,776
Gain (Loss) on  Extinguishment Convertible Debt (95,019) 0
TOTAL OTHER INCOME (EXPENSE) 2,751,403 1,684,847
NET INCOME (LOSS) 2,644,980 1,666,367
NET INCOME (LOSS) attributable to common shareholders $ 2,391,062 $ 1,385,417
BASIC AND FULLY DILUTED EARNINGS (LOSS) PER SHARE $ 0.001 $ 0.000
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING 4,506,953,931 1,769,079,104
XML 15 R5.htm IDEA: XBRL DOCUMENT v3.21.4
Consolidated Statement of Shareholder's Deficit (Unaudited) - USD ($)
Preferred Stock Series A [Member]
Series A A Preferred Stock [Member]
Series N C Preferred Stock [Member]
Common Stock [Member]
Series M Preferred Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Contributed Capital [Member]
Total
Beginning balance, value at Sep. 30, 2020 $ 38,177 $ 5 $ 160,498 $ 4,400 $ 8,313,876 $ (16,583,666) $ 731,711 $ (7,334,998)
Beginning balance, Shares at Sep. 30, 2020 381,768,689 50,000 1,605,000,246 44,000,000        
Shares issued for Debt       $ 5,773   (2,021)     3,752
Shares issued for Debt, Shares       57,726,183          
Shares issued for Interest       $ 2,234   (782)     1,452
Shares Issued For Interest, Shares       22,339,663          
Shares issued for Debt       $ 6,001   (2,101)     3,900
Shares issued for Debt, Shares       60,007,919          
Shares issued for Interest       $ 2,393   (838)     1,555
Shares Issued For Interest, Shares       23,926,234          
Shares issued for Debt       $ 6,083   1,217     7,300
Shares issued for Debt, Shares       60,834,498          
Shares issued for Interest       $ 2,619   523     3,142
Shares Issued For Interest, Shares       26,185,501          
Shares issued for Debt       $ 330   99     429
Shares issued for Debt, Shares       3,300,000          
Shares issued for Interest       $ 182   54     236
Shares issued for Interest, Shares       1,819,077          
Shares issued for Fees       $ 123   36     159
Shares issued for Fees, shares       1,228,077          
Shares issued for Debt       $ 6,200   (2,170)     4,030
Shares issued for Debt, Shares       62,003,571          
Shares issued for Interest       $ 2,616   (916)     1,700
Shares issued for Interest, Shares       26,155,352          
Shares issued for Debt       $ 6,833   1,367     8,200
Shares Issued for Debt, Shares       68,333,539          
Shares issued for Interest       $ 1,488   212     1,700
Shares issued for Interest, Shares       14,883,378          
Shares issued for Debt $ 2,000         11,000     13,000
Shares Issued for Debt, Shares 20,000,437                
Shares issued for Interest $ 1,238         6,808     8,046
Shares issued for Interest, Shares 12,378,732                
Shares issued for Debt       $ 8,889   7,111     16,000
Shares Issued for Debt, Shares       88,888,889          
Shares issued for Interest       $ 1,956   1,294     3,250
Shares issued for Interest, Shares       19,555,555          
Shares issued for Debt       $ 8,200   (2,870)     5,330
Shares Issued for Debt, Shares       82,004,603          
Shares issued for Interest       $ 3,583   (1,254)     2,329
Shares issued for Interest, Shares       35,832,781          
Additions to Contributed Capital Quarter ended 12/31/2020     1,865 1,865
Net Loss             1,666,367   1,666,367
Ending balance, value at Dec. 31, 2020 $ 41,415 $ 5 $ 226,001 $ 4,400 8,330,646 (14,917,299) 733,576 (5,581,256)
Ending balance, Shares at Dec. 31, 2020 414,147,858 50,000 2,260,025,066 44,000,000        
Beginning balance, value at Sep. 30, 2021 $ 43,200 $ 5 $ 1 $ 435,054 $ 4,400 8,644,037 (23,348,900) 736,326 (13,485,877)
Beginning balance, Shares at Sep. 30, 2021 431,998,817 50,000 10,000 4,350,554,514 44,000,000        
Shares issued for Debt       $ 1,000   99,000     100,000
Shares issued for Debt, Shares       10,000,000          
Shares issued for Interest       $ 267   26,395     26,662
Shares Issued For Interest, Shares       2,666,200          
Shares issued for Debt       $ 1,000   99,000     100,000
Shares issued for Debt, Shares       10,000,000          
Shares issued for Interest       $ 388   38,449     38,837
Shares Issued For Interest, Shares       3,883,700          
Shares issued for Debt       $ 602   49,398     50,000
Shares issued for Debt, Shares       6,022,971          
Shares issued for Interest       $ 236   19,367     19,603
Shares Issued For Interest, Shares       2,361,366          
Shares issued for Debt       $ 1,550   48,450     50,000
Shares issued for Debt, Shares       15,503,953          
Shares issued for Interest       $ 576   17,999     18,575
Shares issued for Interest, Shares       5,759,719          
Shares issued for Debt       $ 995   31,080     32,075
Shares issued for Debt, Shares       9,945,768          
Shares issued for Interest       $ 2,326   72,674     75,000
Shares issued for Interest, Shares       23,255,888          
Shares issued for Debt       $ 100   24,900     25,000
Shares Issued for Debt, Shares       1,000,016          
Shares issued for Interest       $ 775   24,225     25,000
Shares issued for Interest, Shares       7,751,973          
Shares issued for Debt $ 400         49,600     50,000
Shares Issued for Debt, Shares 4,000,047                
Shares issued for Interest       $ 321   10,035     10,356
Shares issued for Interest, Shares       3,211,178          
Shares issued for Debt       $ 1,026   98,974     100,000
Shares Issued for Debt, Shares       10,256,427          
Shares issued for Interest       $ 408   39,400     39,808
Shares issued for Interest, Shares       4,082,878          
Shares issued for Interest       $ 36   8,847     8,883
Shares issued for Interest, Shares       355,326          
Shares issued for Debt       $ 842   39,158     40,000
Shares Issued for Debt, Shares       8,421,053          
Shares issued for Interest       $ 299   13,893     14,192
Shares issued for Interest, Shares       2,987,789          
Shares issued for Debt       $ 625   49,375     50,000
Shares Issued for Debt, Shares       6,250,082          
Shares issued for Interest       $ 238   18,774     19,012
Shares issued for Interest, Shares       2,376,531          
Shares issued for Debt       $ 7,248   3,716     10,964
Shares Issued for Debt, Shares       72,476,800          
Shares issued for Debt       $ 100   24,900     25,000
Shares Issued for Debt, Shares       1,000,014          
Shares issued for Interest       $ 46   11,481     11,527
Shares issued for Interest, Shares       461,086          
Shares issued for Debt       $ 240   59,760     60,000
Shares Issued for Debt, Shares       2,400,000          
Shares issued for Interest       $ 102   25,338     25,440
Shares issued for Interest, Shares       1,017,600          
Shares issued for Debt $ 100         24,900     25,000
Shares issued for debt, Shares 1,000,000                
Shares issued for Interest $ 43         10,583     10,625
Shares issued for Interest, Shares 425,000                
Shares issued for Interest $ 187         23,182     23,369
Shares issued for Interest, Shares 1,869,542                
Net Loss   2,644,980 2,644,980
Ending balance, value at Dec. 31, 2021 $ 43,929 $ 5 $ 1 $ 456,399 $ 4,400 $ 9,706,891 $ (20,703,920) $ (9,755,969)
Ending balance, Shares at Dec. 31, 2021 439,293,406 50,000 10,000 4,564,002,832 44,000,000        
XML 16 R6.htm IDEA: XBRL DOCUMENT v3.21.4
CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (loss) $ 2,644,980 $ 1,666,367
Adjustments to reconcile net Income to net cash    
Preferred Stock issued to Consultants
Common Stock issued for Expenses   159
Preferred Stock issued as compensation
Increase (Decrease) in Interest expense attributable to amortization of Discount 22,451 36,717
Increase (Decrease) in Accounts Payable (59,210) 3,369
(Increase) Decrease in Accounts Receivable (27,425) (27,425)
Increase (Decrease) in accrued Expenses 6,036 113,712
(Increase) Decrease in Prepaid Expenses 6,856 12
Increase(Decrease) in Contributed Capital   1,865
Increase (Decrease)  in Derivative Expense (2,964,939) (1,794,776)
Increase (Decrease) in Unearned Income (31,640)  
(Increase( Decrease in Accrued Interest Receivable (135)  
Unrealized Loss(Gain) on Investment Securities 123,891  
Net Cash Provided by (Used in) Operating Activities (279,135)
CASH FLOWS FROM FINANCING ACTIVITIES    
Increase ( Decrease)  in Notes Payable
Increase( Decrease) in Convertible Notes Payable (94,535) 0
Net Cash Provided by (Used in) Financing Activities (94,535) 0
Net Increase (Decrease) in Cash (373,670) 0
Cash at Beginning of Period 727,162
Cash at End of Period 353,492
Supplemental Disclosure of Noncash investing and financing activities:    
Common shares Issued for Debt 710,964 48,941
Preferred Shares Issued for Debt 75,000 13,000
Cash Paid for Interest 28,973
Common shares Issued for Interest 264,970 15,721
Preferred Shares issued for Interest $ 33,994 $ 8,046
XML 17 R7.htm IDEA: XBRL DOCUMENT v3.21.4
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
3 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Company was organized April 24, 2012 under the laws of the State of Nevada 

The Company intends to engage primarily in the development of regenerative medical applications which we intend to license from other entities up to the point of successful completion of Phase I and or Phase II clinical trials after which we would either attempt to sell or license those developed applications or, alternatively, advance the application further to Phase III clinical trials.

The Company is currently engaged in actively identifying small molecules that inhibit or express NR2F6 leading to immune cell activation for oncology applications and immune cell suppression for autoimmune disease.

The Company is in the early stages of development of its proposed products and therapies. The Company will be required to obtain approval from the FDA in order to market any of The Company’s products or therapies. No approval has been granted by the FDA for the marketing and sale of any of the Company’s products and therapies and no assurance may be given that any of the Company’s products or therapies will be granted such approval. The Company’s current plans include the development of regenerative medical applications up to the point of successful completion of Phase I and/ or Phase II clinical trials after which the Company would either attempt to sell or license those developed applications or, alternatively, advance the application further to Phase III clinical trials. The Company can provide no assurance that the Company will be able to sell or license any product or that, if such product is sold or licensed, such sale or license will be on terms favorable to the Company.

A. BASIS OF ACCOUNTING

The financial statements have been prepared using the basis of accounting generally accepted in the United States of America. Under this basis of accounting, revenues are recorded as earned and expenses are recorded at the time liabilities are incurred. The Company has adopted a September 30 year-end.

B. PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include the accounts of KCL Therapeutics, Inc., a Nevada corporation and wholly owned subsidiary of Regen. Significant inter-company transactions have been eliminated.

The Company analyzes the conversion feature of Convertible Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change. The Company values the embedded derivative using the Black-Scholes pricing model.

The Black Scholes pricing model used to determine the Derivative Liability on convertible notes issued by the Company in which an embedded derivative is recognized as of December 31, 2021 utilized the following inputs:

       
Risk Free Interest Rate     1.49 %
Expected Term     .(0.66) – (1.85) Yrs  
Expected Volatility     824.95 %
Expected Dividends        

H. INCOME TAXES

The Company accounts for income taxes using the liability method prescribed by ASC 740, “Income Taxes.” Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date.

The Company applied the provisions of ASC 740-10-50, “Accounting For Uncertainty In Income Taxes”, which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. As of September 30, 2021 the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.

The Company generated a deferred tax credit through net operating loss carry forward.  However, a valuation allowance of 100% has been established.

Interest and penalties on tax deficiencies recognized in accordance with ACS accounting standards are classified as income taxes in accordance with ASC Topic 740-10-50-19.

I.  BASIC EARNINGS (LOSS) PER SHARE

The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 260, “Earnings Per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. ASC 260 requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. The Company has adopted the provisions of ASC 260 effective from inception.

Basic net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding.


J. ADVERTISING

Costs associated with advertising are charged to expense as incurred. Advertising expenses were $0 for the quarters ended December 31,2020 and December 31, 2021..

K. NOTES RECEIVABLE

Notes receivable are stated at cost, less impairment, if any.

As of December 31,2021 the Company has the following Notes Receivable

     
Zander Therapeutics, Inc.  $5,396 

$5,396 owed to the Company by Zander Therapeutics, Inc. bears simple interest at 10% and is due upon the demand of the Company.

L. REVENUE RECOGNITION

Sales of products and related costs of products sold are recognized when: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred; (iii) the price is fixed or determinable; and (iv) collectability is reasonably assured. These terms are typically met upon the prepayment or invoicing and shipment of products.

The Company determines the amount and timing of royalty revenue based on its contractual agreements with intellectual property licensees. The Company recognizes royalty revenue when earned under the terms of the agreements and when the Company considers realization of payment to be probable. Where royalties are based on a percentage of licensee sales of royalty-bearing products, the Company recognizes royalty revenue by applying this percentage to the Company’s estimate of applicable licensee sales. The Company bases this estimate on an analysis of each licensee’s sales results. Where warranted, revenue from licensees for contractual obligations such as License Initiation Fees are recognized upon satisfaction of all conditions required to be satisfied in order for that revenue to have been earned by the Company.

M. INTEREST RECEIVABLE

Interest receivable is stated at cost, less impairment, if any.

XML 18 R8.htm IDEA: XBRL DOCUMENT v3.21.4
RECENT ACCOUNTING PRONOUNCEMENTS
3 Months Ended
Dec. 31, 2021
Accounting Changes and Error Corrections [Abstract]  
RECENT ACCOUNTING PRONOUNCEMENTS

NOTE 2.  RECENT ACCOUNTING PRONOUNCEMENTS

In June 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-10, which eliminated certain financial reporting requirements of companies previously identified as “Development Stage Entities” (Topic 915). The amendments in this ASU simplify accounting guidance by removing all incremental financial reporting requirements for development stage entities. The amendments also reduce data maintenance and, for those entities subject to audit, audit costs by eliminating the requirement for development stage entities to present inception-to-date information in the statements of income, cash flows, and shareholder equity. Early application of each of the amendments is permitted for any annual reporting period or interim period for which the entity’s financial statements have not yet been issued (public business entities) or made available for issuance (other entities). Upon adoption, entities will no longer present or disclose any information required by Topic 915. The Company has adopted this standard.

As of the fiscal year ending September 30, 2019 the Company has adopted Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance in this Update supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification.

The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

In June 2014, FASB issued Accounting Standards Update (ASU) No. 2014-12 Compensation — Stock Compensation (Topic 718), Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. A performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition under Accounting Standards Codification (ASC) 718, Compensation — Stock Compensation. As a result, the target is not reflected in the estimation of the award’s grant date fair value. Compensation cost would be recognized over the required service period, if it is probable that the performance condition will be achieved. The guidance is effective for annual periods beginning after 15 December 2015 and interim periods within those annual periods. Early adoption is permitted. The Company has reviewed the applicable ASU and has not, at the current time, quantified the effects of this pronouncement, however it believes that there will be no material effect on the consolidated financial statements.

In August2014, FASB issued Accounting Standards Update (ASU) No. 2014-15 Preparation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Under generally accepted accounting principles (GAAP), continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity’s liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity’s liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting in accordance with Subtopic 205-30, Presentation of Financial Statements—Liquidation Basis of Accounting. Even when an entity’s liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern. In those situations, financial statements should continue to be prepared under the going concern basis of accounting, but the amendments in this Update should be followed to determine whether to disclose information about the relevant conditions and events. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company will evaluate the going concern considerations in this ASU, however, at the current period, management does not believe that it has met the conditions which would subject these financial statements for additional disclosure.

On January 31, 2013, the FASB issued Accounting Standards Update [ASU] 2013-01, entitled Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. The guidance in ASU 2013-01 amends the requirements in the FASB Accounting Standards Codification [FASB ASC] Topic 210, entitled Balance Sheet. The ASU 2013-01 amendments to FASB ASC 210 clarify that ordinary trade receivables and receivables in general are not within the scope of ASU 2011-11, entitled Disclosure about Offsetting Assets and Liabilities, where that ASU amended the guidance in FASB ASC 210. As those disclosures now are modified with the ASU 2013-01 amendments, the FASB ASC 210 balance sheet offsetting disclosures now clearly are applicable only where reporting entities are involved with bifurcated embedded derivatives, repurchase agreements, reverse repurchase agreements, and securities borrowing and lending transactions that either are offset using the FASB ASC 210 or 815 requirements, or that are subject to enforceable master netting arrangements or similar agreements. ASU 2013-01 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The adoption of this ASU is not expected to have a material impact on our financial statements.

On February 28, 2013, the FASB issued Accounting Standards Update [ASU] 2013-04, entitled Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date. The ASU 2013-04 amendments add to the guidance in FASB Accounting Standards Codification [FASB ASC] Topic 405, entitled Liabilities and require reporting entities to measure obligations resulting from certain joint and several liability arrangements where the total amount of the obligation is fixed as of the reporting date, as the sum of the following:

The amount the reporting entity agreed to pay on the basis of its arrangement among co-obligors.

Any additional amounts the reporting entity expects to pay on behalf of its co-obligors.

While early adoption of the amended guidance is permitted, for public companies, the guidance is required to be implemented in fiscal years, and interim periods within those years, beginning after December 15, 2013. The amendments need to be implemented retrospectively to all prior periods presented for obligations resulting from joint and several liability arrangements that exist at the beginning of the year of adoption. The adoption of ASU 2013-04 is not expected to have a material effect on the Company’s operating results or financial position.

On April 22, 2013, the FASB issued Accounting Standards Update [ASU] 2013-07, entitled Liquidation Basis of Accounting. With ASU 2013-07, the FASB amends the guidance in the FASB Accounting Standards Codification [FASB ASC] Topic 205, entitled Presentation of Financial Statements. The amendments serve to clarify when and how reporting entities should apply the liquidation basis of accounting. The guidance is applicable to all reporting entities, whether they are public or private companies or not-for-profit entities. The guidance also provides principles for the recognition of assets and liabilities and disclosures, as well as related financial statement presentation requirements. The requirements in ASU 2013-07 are effective for annual reporting periods beginning after December 15, 2013, and interim reporting periods within those annual periods. Reporting entities are required to apply the requirements in ASU 2013-07 prospectively from the day that liquidation becomes imminent. Early adoption is permitted. The adoption of ASU 2013-07 is not expected to have a material effect on the Company’s operating results or financial position.

In January 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2016-01, which amends the guidance in U.S. GAAP on the classification and measurement of financial instruments. Changes to the current guidance primarily affect the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the ASU clarifies guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The new standard is effective for fiscal years and interim periods beginning after December 15, 2017, and upon adoption, an entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet at the beginning of the first reporting period in which the guidance is effective. Early adoption is not permitted except for the provision to record fair value changes for financial liabilities under the fair value option resulting from instrument-specific credit risk in other comprehensive income. The Company adopted ASU 2016-01 as of the fiscal year ending September 30, 2019.

A variety of proposed or otherwise potential accounting standards are currently under study by standard setting organizations and various regulatory agencies.  Due to the tentative and preliminary nature of those proposed standards, the Company’s management has not determined whether implementation of such standards would be material to its financial statements.

XML 19 R9.htm IDEA: XBRL DOCUMENT v3.21.4
GOING CONCERN
3 Months Ended
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
GOING CONCERN

NOTE 3. GOING CONCERN

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company generated net losses of $20,703,920 during the period from April 24, 2012 (inception) through December 31, 2021. This condition raises substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to meet its obligations, to obtain additional financing as may be required and ultimately to attain profitability. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Management plans to raise additional funds by offering securities for cash. Management has yet to decide what type of offering the Company will use or how much capital the Company will raise.

XML 20 R10.htm IDEA: XBRL DOCUMENT v3.21.4
NOTES PAYABLE
3 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
NOTES PAYABLE

NOTE 4. NOTES PAYABLE

(a) RELATED PARTY

 

   
   As of December 31, 2021
David Koos  $227 
Total:  $227 

$227 lent to the Company by David Koos is due and payable at the demand of the holder and bears simple interest at a rate of 15% per annum.

(b) NON RELATED PARTY

 

     
Coventry Enterprises LLC,  $1,500,000 
Total:  $1,500,000 

On September 17,2021 the “Company” issued a promissory note in the principal amount of $1,500,000 ( “Note”) of which $75,000 was retained by the Holder through an Original Issue Discount (“OID”) for due diligence and origination related to this transaction and Thirty-five Thousand Dollars $35,000 was remitted by the Holder, at the instance and on behalf of the Company, directly to Holder’s counsel for documentation preparation fees resulting in net consideration paid to the Company of $1,390,000.

The Note carries “Guaranteed Interest” on the principal amount at the rate of 5% per annum for the ten-month term of this Note for an aggregate Guaranteed Interest $62,500 all of which Guaranteed Interest shall be deemed earned as of September 17, 2021.

The Principal Amount and the Guaranteed Interest shall be due and payable in five equal monthly payments of $312,500 commencing on March 17, 2022 and continuing on the 17th day of each month thereafter until paid in full not later than July 18, 2022 (the “Maturity Date”).

Solely following an Event of Default (as such term is defined in the Note) the Note shall become convertible, in whole or in part, into shares of Common Stock at the option of the Holder. The conversion price of the Note is 90% of the lowest per-share Trading Price per share. Trading Price is defined as the lowest daily VWAP for the 20 Trading Days preceding a Conversion Date. VWAP is defined as the dollar volume-weighted average price for the common shares as reported by Bloomberg.

The OID is being amortized by the Company over the term of the Note. As of December 31 ,2021 the unamortized discount on this Note is $48,597.

XML 21 R11.htm IDEA: XBRL DOCUMENT v3.21.4
CONVERTIBLE NOTES PAYABLE
3 Months Ended
Dec. 31, 2021
Convertible Notes Payable  
CONVERTIBLE NOTES PAYABLE

NOTE 5. CONVERTIBLE NOTES PAYABLE

On March 8, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $100,000 for consideration consisting of $100,000 cash. The Note pays simple interest in the amount of 8% per annum . The maturity of the Note is three years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Common Stock shall hereafter be changed or reclassified pursuant to the following terms and conditions:

(a) For the period beginning on the Issue Date and ending 365 days subsequent to the Issue Date (“Year 1”) a 50% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).

(b) For the period beginning one day subsequent to the final day of Year One and ending 365 days subsequent to Year One (“Year 2”) a 35% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).

(c) For the period beginning one day subsequent to the final day of Year 2 and ending 365 days subsequent to Year 2 (“Year 3”) a 25% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).

(d) “Trading Price” means the closing bid price on the Over-the-Counter Bulletin Board, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Lender (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Company and the Lender. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded. “Trading Volume” shall mean the number of shares traded on such Trading Day as reported by such Reporting Service. The Conversion Price shall be equitably adjusted for stock splits, stock dividends, rights offerings, combinations, recapitalization, reclassifications, extraordinary distributions and similar events by the Company relating to the Lender’s securities.

The Company shall have the right, exercisable on not less than five (5) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

Upon closing of a Transaction Event the Lender shall receive 0 .10% ( one tenth of one percent)of the consideration actually received by the Company from an unaffiliated third party as a result of the closing of a Transaction Event.

“Transaction Event” shall mean either of:

(a) The sale by the Company of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

The issuance of the Note amounted in a beneficial conversion feature of $42,600 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $ 0. As of December 31, 2021 $100,000 of the principal amount of the Note remains outstanding.

On April 6, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 8% per annum . The maturity of the Note is three years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Common Stock shall hereafter be changed or reclassified pursuant to the following terms and conditions:

(a) For the period beginning on the Issue Date and ending 365 days subsequent to the Issue Date (“Year 1”) a 50% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).

(b) For the period beginning one day subsequent to the final day of Year One and ending 365 days subsequent to Year One (“Year 2”) a 35% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).

(c) For the period beginning one day subsequent to the final day of Year 2 and ending 365 days subsequent to Year 2 (“Year 3”) a 25% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).

(d) “Trading Price” means the closing bid price on the Over-the-Counter Bulletin Board, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Lender (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Company and the Lender. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded. “Trading Volume” shall mean the number of shares traded on such Trading Day as reported by such Reporting Service. The Conversion Price shall be equitably adjusted for stock splits, stock dividends, rights offerings, combinations, recapitalization, reclassifications, extraordinary distributions and similar events by the Company relating to the Lender’s securities.

The Company shall have the right, exercisable on not less than five (5) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

Upon closing of a Transaction Event the Lender shall receive 0 .10% ( one tenth of one percent)of the consideration actually received by the Company from an unaffiliated third party as a result of the closing of a Transaction Event.

“Transaction Event” shall mean either of:

(a) The sale by the Company of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

The issuance of the Note amounted in a beneficial conversion feature of $9,900 which is amortized under the Interest Method over the life of the Note. As of September 30,2021 the unamortized discount on the convertible note outstanding is $0. December 31,2021 $50,000 of the principal amount of the Note remains outstanding.

On October 31, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is two years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at a conversion price of $0.0125 per share.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

The issuance of the Note amounted in a beneficial conversion feature of $50,000 which is amortized under the Interest Method over the life of the Note. As of September 30,2021 the unamortized discount on the convertible note outstanding is $0. As of December 31,2021 $50,000 of the principal amount of the Note remains outstanding.

On October 31, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is two years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at a conversion price of $0.0125 per share.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

The issuance of the Note amounted in a beneficial conversion feature of $50,000 which is amortized under the Interest Method over the life of the Note. As of September 30,2021 the unamortized discount on the convertible note outstanding is $ 0 As of December 31,2021 $50,000 of the principal amount of the Note remains outstanding.

On October 31, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is two years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at a conversion price of $0.0125 per share.


The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

The issuance of the Note amounted in a beneficial conversion feature of $50,000 which is amortized under the Interest Method over the life of the Note. As of September 30,2021 the unamortized discount on the convertible note outstanding is $0. As of December 31 ,2021 $50,000 of the principal amount of the Note remains outstanding.

March 13, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is February 24, 2020. All or part of the principal is convertible at any time at the demand of the Lender into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.0125 per common share.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.05 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note.

As of December 31,2021 $50,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $204,082 was recognized by the Company as of December 31, 2021. The issuance of the Note amounted in a discount of $50,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

On March 31, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is March 31, 2020. All or part of the principal is convertible at any time at the demand of the Lender into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.0125 per common share.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.05 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)

In the event part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note. As of December 31 ,2021 $50,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $204,082 was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $50,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

On April 19, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is April 19, 2020. All or part of the principal is convertible at any time at the demand of the Lender into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.0125 per common share.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.05 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31,2021 $50,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $204,082 was recognized by the Company as of September 30,2021. The issuance of the Note amounted in a discount of $50,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

On May 5, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $200,000 for consideration consisting of $200,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is May 5, 2020. The Note is convertible into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iii) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.05 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31,2021 $200,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $816,327 was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $200,000 which is amortized under the Interest Method over the life of the Note. As of December 31 ,2021 the unamortized discount on the convertible note outstanding is $0.

On June 26, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $150,000 for consideration consisting of $150,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is June 16, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31,2021 $150,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $612,245 was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $150,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.


On September 25, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is September 25, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.0125 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party 

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31, 2021 $50,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $204,082 was recognized by the Company as of December 31, 2021. The issuance of the Note amounted in a discount of $50,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

On October 3, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is October 3, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31,2021, $50,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $204,082 was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $50,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

On October 16, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $100,000 for consideration consisting of $100,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is October 9, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction. 

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)


Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31,2021 $100,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $408,163 was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $100,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.


On November 1, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $25,000 for consideration consisting of $25,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is November 1, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note. 

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31,2021 $25,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $102,041 was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $25,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

On November 1, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $25,000 for consideration consisting of $25,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is November 1, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party.

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property.

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31,2021 $25,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $102,041 was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $25,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

On December 20, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $100,000 for consideration consisting of $100,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is December 20, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of December 31,2021 $100,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $408,163 was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $100,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

On February 28, 2018 (“Issue date”) the Company issued a two Convertible Notes (“Notes”) in the aggregate face amount of $100,000 for consideration consisting of $100,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Notes is February 28, 2021. The Notes may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of these Notes, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note. 

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Notes in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the notes, or if the Lender chooses not to convert the remaining amount of the notes into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Notes into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Notes on or prior to the close of business on the three (3) month anniversary of the date that the Notes shall have been prepaid by the Company (“Prepayment Date”).

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Notes, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Notes.

As of December 31,2021 $100,000 of the principal amount of the Notes remains outstanding.

The Company analyzed the conversion feature of the Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $408,163 was recognized by the Company as of December 31,2021. The issuance of the Notes amounted in a discount of $100,000 which is amortized under the Interest Method over the life of the Notes. As of December 31,2021 the unamortized discount on the convertible notes outstanding is $0.

On July 11, 2018 the Company issued a Convertible Note (“Note”) in the face amount of $11,500 to an entity controlled by the Company’s then Chief Financial Officer for consideration consisting of $11,500 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is May 4, 2021. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.01 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

 (b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.01 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note.

As of December 31,2021 $11,500 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $46,938 was recognized by the Company as of December 31,2021. The issuance of the Notes amounted in a discount of $11,500 which is amortized under the Interest Method over the life of the Notes. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

On September 30, 2018 Regen Biopharma, Inc. (“Regen”) issued a convertible promissory note in the principal amount of $350,000 (“Note”) to Zander Therapeutics, Inc. (“Zander”). Consideration for the Note consisted of $350,000. A onetime interest charge of 10% of the principal amount shall be applied to the principal amount of the Note. The Note is due and payable 24 months from the effective date.

Zander has the right, at any time after the September 30, 2018, at its election, to convert all or part of the outstanding and unpaid Principal Sum and accrued interest (and any other fees) into shares of fully paid and non-assessable shares of Series A Preferred stock of Regen as per this conversion formula: Number of shares receivable upon conversion equals the dollar conversion amount divided by the Conversion Price. The Conversion Price is the greater of $0.0001 or 60% of the lowest trade price in the 25 trading days previous to the conversion. Zander, at any time prior to selling all of the shares from a conversion, may, for any reason, rescind any portion, in whole or in part, of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the Principal Sum with the rescinded conversion shares returned to Regen.

As of December 31, 2021, 10,000 of the principal amount of the Note remains outstanding.

The issuance of the Note amounted in a beneficial conversion feature of $350,000 which is amortized under the Interest Method over the life of the Note. As of December 31 2021 the unamortized discount on the convertible note outstanding is $0.

Zander and Regen are under common control. Zander Therapeutics, Inc. is the sole licensee of Regen's NR2F6 intellectual property for veterinary applications. 

On July 19, 2019 the Company issued a convertible promissory note in the face amount of $100,000 (“Note”) for consideration consisting of:

$95,000 cash

the payment of $5,000 of legal fees

The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is July 19, 2020. The Note may be converted into the common stock of Regen at a price per share ( “Conversion Price”) equivalent to 60% of the lowest Trading price of the common stock of the Company as reported on the National Quotations Bureau OTC Markets exchange upon which the Company's shares are traded or any exchange upon which the Common Stock of the Company may be traded in the future , for the twenty prior trading days including the day upon which a Notice of Conversion is received by the Company or its transfer agent. . In no event shall the Holder be allowed to effect a conversion if such conversion, along with all other shares of Company common stock beneficially owned by the Holder and its affiliates would exceed 9.9% of the outstanding shares of the Common Stock of the Company.

The proceeds from the issuance of the Note are to be allocated as follows:

$30,592 will be utilized to retire the outstanding balance of a $75,000 note issued by the Company on August 15, 2018 to One44 capital, LLC and $22,877 will be allocated to the Company’s accountants and auditors to bring the Company current with regards to the Company’s quarterly reporting requirements under the Securities and Exchange Act of 1934.

The Note may be prepaid with the following penalties:

Time Period  Payment Premium
<=60 days after note issuance  125% of the sum of principal  plus accrued interest
>60 days <= 120 days after note issuance  135% of the sum of principal  plus accrued interest
>120 days <=180 days  after note issuance  140% of the sum· of principal plus accrued· interest

This Note may not be prepaid after the 180th day.

As of December 31,2021 $1,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $3,048 was recognized by the Company as of December 31,2021.

The issuance of the Note amounted in a discount of $100,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

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RELATED PARTY TRANSACTIONS
3 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 6. RELATED PARTY TRANSACTIONS

On June 23, 2015 the Company entered into an agreement (“Agreement”) with Zander Therapeutics, Inc. ( “Zander”) whereby The Company granted to Zander an exclusive worldwide right and license for the development and commercialization of certain intellectual property controlled by The Company (” License IP”) for non-human veterinary therapeutic use for a term of fifteen years. Zander is under common control with the Company.

Pursuant to the Agreement, Zander shall pay to The Company one-time, non-refundable, upfront payment of one hundred thousand US dollars ($100,000) as a license initiation fee which must be paid within 90 days of June 23, 2015 and an annual non-refundable payment of one hundred thousand US dollars ($100,000) on July 15th, 2016 and each subsequent anniversary of the effective date of the Agreement.

The abovementioned payments may be made, at Zander’s discretion, in cash or newly issued common stock of Zander.

Pursuant to the Agreement, Zander shall pay to The Company royalties equal to four percent (4%) of the Net Sales , as such term is defined in the Agreement, of any Licensed Products, as such term is defined in the Agreement, in a Quarter.

Pursuant to the Agreement, Zander will pay The Company ten percent (10%) of all consideration (in the case of in-kind consideration, at fair market value as monetary consideration) received by Zander from sublicensees ( excluding royalties from sublicensees based on Net Sales of any Licensed Products for which The Company receives payment pursuant to the terms and conditions of the Agreement).

Zander is obligated pay to The Company minimum annual royalties of ten thousand US dollars ($10,000) payable per year on each anniversary of the Effective Date of this Agreement, commencing on the second anniversary of June 23, 2015. This minimum annual royalty is only payable to the extent that royalty payments made during the preceding 12-month period do not exceed ten thousand US dollars ($10,000).

The Agreement may be terminated by The Company:

If Zander has not sold any Licensed Product by ten years of the effective date of the Agreement or Zander has not sold any Licensed Product for any twelve (12) month period after Zander’s first commercial sale of a Licensed Product.

The Agreement may be terminated by Zander with regard to any of the License IP if by five years from the date of execution of the Agreement a patent has not been granted by the United States patent and Trademark Office to The Company with regard to that License IP.

The Agreement may be terminated by Zander with regard to any of the License IP if a patent that has been granted by the United States patent and Trademark Office to The Company with regard to that License IP is terminated.

The Agreement may be terminated by either party in the event of a material breach by the other party.

On December 17, 2018 Regen Biopharma, Inc.(“Licensor”) , KCL Therapeutics, Inc. (“Assignee”) and Zander Therapeutics, Inc. (“Licensee”) entered into a LICENSE ASSIGNMENT AND CONSENT AGREEMENT whereby, with regards to certain intellectual property which was assigned by Regen Biopharma, Inc.(“Assigned Properties”) to its wholly owned subsidiary KCL Therapeutics, Inc., Licensor hereby transfers and assigns to Assignee all rights, duties, and obligations of Licensor under the Agreement with respect to the Assigned Properties , and Assignee agrees to assume such duties and obligations thereunder and be bound to the terms of the Agreement with respect thereto.

On December 16, 2019 Zander Therapeutics, Inc. (“Zander”), KCL Therapeutics, Inc. (“KCL”) and Regen Biopharma, Inc. (“Regen”) entered into an agreement (“Agreement”) whereby:

1) Zander shall return for cancellation 194,285,714 shares of the Series A Preferred stock of Regen (“Conversion Shares”) acquired by Zander through conversion of $340,000 of principal indebtedness of a $350,000 convertible note payable issued by Regen to Zander. Subsequent to this event the principal amount due to Zander by Regen pursuant to the Convertible Note shall be $350,000 which shall be applied pursuant to the Agreement.

2) A $35,000 one time charge due to Zander by Regen (“One Time Charge”) shall be applied pursuant to the Agreement.

3) $75,900 of principal indebtedness due to Regen by Zander and $4,328 of accrued but unpaid interest due by Regen to Zander shall be applied pursuant to the Agreement.

No actions were taken by any of the parties to enforce the terms of the Agreement.

On April 15, 2021 the Agreement was amended as follows so that the material terms and conditions shall be:

a) Zander shall not return the Conversion shares for cancellation and the principal indebtedness of the aforementioned convertible note shall not reflect such return

b) As of December 16, 2019 all principal and accrued interest payable by Regen to Zander on that date resulting from Promissory Notes issued by Regen to Zander shall be credited towards amounts due by Zander pursuant to that agreement, as amended, entered into by and between Zander and Regen on June 23, 2015 (“License Agreement”) whereby Regen granted to Zander an exclusive worldwide right and license for the development and commercialization of certain intellectual property controlled by Regen for non-human veterinary therapeutic use for a term of fifteen years and that License Assignment And Consent agreement entered into by and between Regen, KCL and Zander on December 17, 2018 whereby Regen transferred and assigned to KCL all rights, duties, and obligations of Regen under the License Agreement and KCL agreed to assume such duties and obligations thereunder and be bound to the terms of the License Agreement with respect thereto.

Zander and Regen are under common control.

On September 30, 2018 Regen Biopharma, Inc. (“Regen”) issued a convertible promissory note in the principal amount of $350,000 (“Note”) to Zander Therapeutics, Inc. (“Zander”). Consideration for the Note consisted of $350,000. A onetime interest charge of 10% of the principal amount shall be applied to the principal amount of the Note. The Note is due and payable 24 months from the effective date.

Zander has the right, at any time after the September 30, 2018, at its election, to convert all or part of the outstanding and unpaid Principal Sum and accrued interest (and any other fees) into shares of fully paid and non-assessable shares of Series A Preferred stock of Regen as per this conversion formula: Number of shares receivable upon conversion equals the dollar conversion amount divided by the Conversion Price. The Conversion Price is the greater of $0.0001 or 60% of the lowest trade price in the 25 trading days previous to the conversion. Zander, at any time prior to selling all of the shares from a conversion, may, for any reason, rescind any portion, in whole or in part, of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the Principal Sum with the rescinded conversion shares returned to Regen.

As of September 30, 2021, $10,000 of the principal amount of the Note remains outstanding.

During the quarter ended June 30, 2021 Zander Therapeutics, Inc. issued a promissory note in the amount of $5,396 to the Company as consideration for expenses of Zander Therapeutics Inc., paid by the Company. The Note is payable on demand of the Holder and bears simple interest at 10% per annum.

On October 8,2021 the Company entered into an agreement with Dr. Brian Koos, MD PhD whereby Dr. Brian Koos would provide services to the Company consisting of :

a)       Reviewing existing publications on research being conducted on Checkpoint NR2F6.

b)       Identifying the most promising applications for the Company’s technology

c)       Drafting a “white paper” on results for 1(b)

d)       Making introductions to known experts in appropriate fields identified in 1(b).

Dr. Brian Koos is to be paid compensated $117,000 as total consideration for performing the abovementioned tasks. During the quarter ended December 31, 2021 Dr. Brian Koos was paid the amount of $80,275. Dr. Brian Koos is the brother of David Koos the Chairman and Chief Executive Officer of the Company.

As of December 31, 2021 the Company is indebted to David R. Koos the Company’s sole officer and director in the amount of $227. $227 lent to the Company by Koos is due and payable at the demand of the holder and bear simple interest at a rate of 15% per annum.

During the quarter ended December 31, 2021 the Company paid $5,000 of rental expenses to the landlord of BST Partners as consideration to BST Partners for use of office space. BST Partners is controlled by David R. Koos the Chairman and Chief Executive Officer of the Company.

On January 13, 2022 Regen Biopharma, Inc. entered into a sublease agreement with BST Partners (“BST”) whereby Regen Biopharma, Inc. would sublet office space located at 4700 Spring Street, Suite 304, La Mesa, California 91942 from BST on a month to month basis for $5,000 per month beginning January 14, 2022.

BST Partners is controlled by David Koos who serves as the sole officer and director of Regen Biopharma, Inc.

XML 23 R13.htm IDEA: XBRL DOCUMENT v3.21.4
ACCOUNTS RECEIVABLE, RELATED PARTY
3 Months Ended
Dec. 31, 2021
Credit Loss [Abstract]  
ACCOUNTS RECEIVABLE, RELATED PARTY

NOTE 7. ACCOUNTS RECEIVABLE, RELATED PARTY

Accounts Receivable due from Related Party as of December 31, 2021 consists solely of amounts earned by the Company not yet paid resulting from the Company’s license agreement with KCL Therapeutics (See Note 6).

XML 24 R14.htm IDEA: XBRL DOCUMENT v3.21.4
STOCKHOLDERS’ EQUITY
3 Months Ended
Dec. 31, 2021
Equity [Abstract]  
STOCKHOLDERS’ EQUITY

NOTE 8. STOCKHOLDERS’ EQUITY

The stockholders’ equity section of the Company contains the following classes of capital stock as of December 31 2021:

Common stock, $ 0.0001 par value; 4,800,000,000 shares authorized: 4,564,002,832  shares issued and outstanding.

With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Common Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Common Stock owned by such holder times one (1).

On any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of the Common Stock shall receive, out of assets legally available for distribution to the Company’s stockholders, a ratable share in the assets of the Corporation.

Preferred Stock, $0.0001 par value, 800,000,000 shares authorized of which 600,000 is designated as Series AA Preferred Stock: 50,000 shares issued and outstanding as of December 31,2021, 300,000,000 is designated Series A Preferred Stock of which 439,293,406 shares are outstanding as of December 31,2021, 300,000,000 is designated Series M Preferred Stock of which 44,000,000 shares are outstanding as of December 31,2021, and 20,000 is designated Series NC stock of which 10,000 shares are outstanding as of December 31, 2021. . 

The abovementioned shares authorized pursuant to the Company’s certificate of incorporation may be issued from time to time without prior approval of the shareholders. The Board of Directors of the Company shall have the full authority permitted by law to establish one or more series and the number of shares constituting each such series and to fix by resolution full or limited, multiple or fractional, or no voting rights, and such designations, preferences, qualifications, restrictions, options, conversion rights and other special or relative rights of any series of the Stock that may be desired.

Series AA Preferred Stock

On September 15, 2014 the Company filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series AA Preferred Stock” (hereinafter referred to as “Series AA Preferred Stock”).

The Board of Directors of the Company have authorized 600,000 shares of the Series AA Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Series AA Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series AA Preferred Stock owned by such holder times ten thousand (10,000). Except as otherwise required by law holders of Common Stock, other series of Preferred issued by the Corporation, and Series AA Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

Series A Preferred Stock

On January 15, 2015 the Company filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series A Preferred Stock” (hereinafter referred to as “Series A Preferred Stock”).

The Board of Directors of the Company have authorized 300,000,000 shares of the Series A Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Series A Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series A Preferred Stock owned by such holder times one . Except as otherwise required by law holders of Common Stock, other series of Preferred issued by the Corporation, and Series A Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

Holders of the Series A Preferred Stock will be entitled to receive, when, as and if declared by the board of directors of the Company (the “Board”) out of funds legally available therefore, non-cumulative cash dividends of $0.01 per quarter. In the event any dividends are declared or paid or any other distribution is made on or with respect to the Common Stock , the holders of Series A Preferred Stock as of the record date established by the Board for such dividend or distribution on the Common Stock shall be entitled to receive, as additional dividends (the “Additional Dividends”) an amount (whether in the form of cash, securities or other property) equal to the amount (and in the form) of the dividends or distribution that such holder would have received had each share of the Series A Preferred Stock been one share of the Common Stock, such Additional Dividends to be payable on the same payment date as the payment date for the Common Stock.

Upon any liquidation, dissolution, or winding up of the Company, whether voluntary or involuntary (collectively, a “Liquidation”), before any distribution or payment shall be made to any of the holders of Common Stock or any other series of preferred stock, the holders of Series A Preferred Stock shall be entitled to receive out of the assets of the Company, whether such assets are capital, surplus or earnings, an amount equal to $0.01 per share of Series A Preferred (the “Liquidation Amount”) plus all declared and unpaid dividends thereon, for each share of Series A Preferred held by them.

If, upon any Liquidation, the assets of the Company shall be insufficient to pay the Liquidation Amount, together with declared and unpaid dividends thereon, in full to all holders of Series A Preferred, then the entire net assets of the Company shall be distributed among the holders of the Series A Preferred, ratably in proportion to the full amounts to which they would otherwise be respectively entitled and such distributions may be made in cash or in property taken at its fair value (as determined in good faith by the Board), or both, at the election of the Board. 

On January 10, 2017 Regen Biopharma, Inc. (“Regen”) filed a CERTIFICATE OF DESIGNATION ("Certificate of Designations") with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as "Series M Preferred Stock" (hereinafter referred to as "Series M Preferred Stock").

The Board of Directors of Regen have authorized 300,000,000 shares of the Series M Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of Regen, each holder of Series M Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series M Preferred Stock owned by such holder times one. Except as otherwise required by law holders of Common Stock, other series of Preferred issued by Regen, and Series M Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

The holders of Series M Preferred Stock shall be entitled receive dividends, when, as and if declared by the Board of Directors in accordance with Nevada Law, in its discretion, from funds legally available therefore

On any voluntary or involuntary liquidation, dissolution or winding up of Regen, the holders of the Series M Preferred Stock shall receive, out of assets legally available for distribution to Regen’s stockholders, a ratable share in the assets of Regen.

On March 26, 2021 Regen Biopharma, Inc. ( “Regen”) filed a CERTIFICATE OF DESIGNATION ("Certificate of Designations") with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as Nonconvertible Series NC Preferred Stock (hereinafter referred to as "Series NC Preferred Stock").

The Board of Directors of Regen have authorized 20,000 shares of the Series NC Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of Regen, each holder of Series NC Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series NC Preferred Stock owned by such holder times 500,000. Except as otherwise required by law holders of Common Stock, other series of Preferred issued by Regen, and Series NC Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

The holders of Series NC Preferred Stock shall be entitled receive dividends, when, as and if declared by the Board of Directors in accordance with Nevada Law, in its discretion, from funds legally available therefore

On any voluntary or involuntary liquidation, dissolution or winding up of Regen, the holders of the Series NC Preferred Stock shall receive, out of assets legally available for distribution to Regen’s stockholders, a ratable share in the assets of Regen. 

XML 25 R15.htm IDEA: XBRL DOCUMENT v3.21.4
INVESTMENT SECURITIES, RELATED PARY
3 Months Ended
Dec. 31, 2021
Investment Securities Related Pary  
INVESTMENT SECURITIES, RELATED PARY

NOTE 9. INVESTMENT SECURITIES, RELATED PARY

On June 11, 2018 Regen Biopharma, Inc. was paid a property dividend consisting of 470,588 of the common shares of Zander Therapeutics, Inc.

On November 29, 2018 the Company accepted 725,000 shares of the Series M Preferred stock of Zander Therapeutics, Inc. in satisfaction of prepaid rent and accrued interest owed to the Company collectively amounting to $13,124.

On December 31,2021 the Company revalued 470,588 of the common shares of Zander Therapeutics, Inc. and 725,000 shares of the Series M Preferred stock of Zander Therapeutics, Inc. based on the following inputs:

     
Fair Value of Intellectual Property  $1,500 
Prepaid Expenses   74,298 
Due from Employee   1,071 
Note Receivable   64,400 
Accrued Interest Receivable   20,274 
Investment Securities   593,357 
Convertible Note Receivable   10,000 
Accounts Payable   1,269,041 
Notes Payable   500,000 
Accrued Expenses Related Parties   89,529 
Accrued Expenses   203,037 
Enterprise Value   2,826,507 
Less: Total Debt   (2,061,607)
Portion of Enterprise Value Attributable to Shareholders   764,900 
Fair Value  Per Share  $0.0167 

The abovementioned constitute the Company’s sole related party investment securities as of December 31, 2021 

As of December 31, 2021:

               
470,588 Common Shares of Zander Therapeutics, Inc.
              
 Basis     Fair Value    

Total Unrealized Gains

  Net Unrealized Gain or (Loss) realized during the quarter   ended December 31,2021
$5,741    $7,858   $2,118  $ 0

 

725,000 Series M Preferred of Zander Therapeutics, Inc.
              
 Basis     Fair Value    Total Unrealized Loss  Net Unrealized Gain or (Loss) realized during the quarter  ended September 30,2021
$13,124    $12,109   $(1,104) $ 0

 

XML 26 R16.htm IDEA: XBRL DOCUMENT v3.21.4
INVESTMENT SECURITIES
3 Months Ended
Dec. 31, 2021
Disclosure Investment Securities Abstract  
INVESTMENT SECURITIES

NOTE 10. INVESTMENT SECURITIES

During the quarter ended June 30, 2021 the Company was paid 50,000 common shares of Oncology Pharma, Inc. pursuant to an agreement entered into by and between KCL Therapeutics, Inc. ( a wholly owned subsidiary of the Company) and Oncology Pharma, Inc. whereby Oncology Pharma, Inc. was granted a license for the development and commercialization of certain intellectual property (“License IP”) for the treatment in humans of colon cancer for a term of fifteen years from April 7, 2021.

During the quarter ended June 30, 2021 13,000 of the aforementioned common shares were sold to an unrelated party for $300,000 cash.

During the quarter ended September 30, 2021 18,000 of the aforementioned common shares were sold to an unrelated party for $195,000 cash.

As of December 31, 2021 18,300 common shares of Oncology Pharma, Inc. constitute the sole investment securities other than shares of Zander Therapeutics, Inc. held by the Company.

On December 31,2021 the Company revalued 18,300 common shares of Oncology Pharma, Inc. at the closing price of the common shares on the OTC Pink market.

As of December 31, 2021:

                     
18,300 Common Shares of Oncology Pharma, Inc.
                     
  Basis       Fair Value       Total Unrealized Losses   Net Unrealized Gain or (Loss) realized during the quarter    ended December 31,2021
$ 677,100     $ 74,115     $ 602,985   $ (123,891)  
XML 27 R17.htm IDEA: XBRL DOCUMENT v3.21.4
STOCK TRANSACTIONS
3 Months Ended
Dec. 31, 2021
Stock Transactions  
STOCK TRANSACTIONS

NOTE 12. STOCK TRANSACTIONS

On October 1, 2021 the Company issued 101,718,058 common shares in satisfaction of $425,000 of convertible indebtedness and $154,991 of accrued interest on convertible indebtedness.

On October 1, 2021 the Company issued 5,869,589 shares of Series A Preferred stock in satisfaction of $50,000 of convertible indebtedness and $23,369 of accrued interest on convertible indebtedness.

On October 29, 2021 the Company issued 25748147 common shares in satisfaction of $140,000 of convertible indebtedness and $54,000 of accrued interest on convertible indebtedness.

On November 4 , 2021 the Company issued 8626613 common shares in satisfaction of $50,000 of convertible indebtedness and $69,012 of accrued interest on convertible indebtedness.

On November 24, 2021 the Company issued 77355500 common shares in satisfaction of $95,964 of convertible indebtedness and $36,967 of accrued interest on convertible indebtedness.

On December 10 2021 the Company issued 1,425,000 shares of Series A Preferred stock in satisfaction of $25,000 of convertible indebtedness and $10,625 of accrued interest on convertible indebtedness.

XML 28 R18.htm IDEA: XBRL DOCUMENT v3.21.4
SUBSEQUENT EVENTS
3 Months Ended
Dec. 31, 2021
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 13. SUBSEQUENT EVENTS

On January 13, 2022 Regen Biopharma, Inc. entered into a sublease agreement with BST Partners (“BST”) whereby Regen Biopharma, Inc. would sublet office space located at 4700 Spring Street, Suite 304, La Mesa, California 91942 from BST on a month to month basis for $5,000 per month beginning January 14, 2022.

BST Partners is controlled by David Koos who serves as the sole officer and director of Regen Biopharma, Inc.

XML 29 R19.htm IDEA: XBRL DOCUMENT v3.21.4
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
3 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
BASIS OF ACCOUNTING

A. BASIS OF ACCOUNTING

The financial statements have been prepared using the basis of accounting generally accepted in the United States of America. Under this basis of accounting, revenues are recorded as earned and expenses are recorded at the time liabilities are incurred. The Company has adopted a September 30 year-end.

PRINCIPLES OF CONSOLIDATION

B. PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include the accounts of KCL Therapeutics, Inc., a Nevada corporation and wholly owned subsidiary of Regen. Significant inter-company transactions have been eliminated.

The Company analyzes the conversion feature of Convertible Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change. The Company values the embedded derivative using the Black-Scholes pricing model.

The Black Scholes pricing model used to determine the Derivative Liability on convertible notes issued by the Company in which an embedded derivative is recognized as of December 31, 2021 utilized the following inputs:

       
Risk Free Interest Rate     1.49 %
Expected Term     .(0.66) – (1.85) Yrs  
Expected Volatility     824.95 %
Expected Dividends        

INCOME TAXES

H. INCOME TAXES

The Company accounts for income taxes using the liability method prescribed by ASC 740, “Income Taxes.” Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date.

The Company applied the provisions of ASC 740-10-50, “Accounting For Uncertainty In Income Taxes”, which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. As of September 30, 2021 the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.

The Company generated a deferred tax credit through net operating loss carry forward.  However, a valuation allowance of 100% has been established.

Interest and penalties on tax deficiencies recognized in accordance with ACS accounting standards are classified as income taxes in accordance with ASC Topic 740-10-50-19.

BASIC EARNINGS (LOSS) PER SHARE

I.  BASIC EARNINGS (LOSS) PER SHARE

The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 260, “Earnings Per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. ASC 260 requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. The Company has adopted the provisions of ASC 260 effective from inception.

Basic net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding.

ADVERTISING


J. ADVERTISING

Costs associated with advertising are charged to expense as incurred. Advertising expenses were $0 for the quarters ended December 31,2020 and December 31, 2021..

NOTES RECEIVABLE

K. NOTES RECEIVABLE

Notes receivable are stated at cost, less impairment, if any.

As of December 31,2021 the Company has the following Notes Receivable

     
Zander Therapeutics, Inc.  $5,396 

$5,396 owed to the Company by Zander Therapeutics, Inc. bears simple interest at 10% and is due upon the demand of the Company.

REVENUE RECOGNITION

L. REVENUE RECOGNITION

Sales of products and related costs of products sold are recognized when: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred; (iii) the price is fixed or determinable; and (iv) collectability is reasonably assured. These terms are typically met upon the prepayment or invoicing and shipment of products.

The Company determines the amount and timing of royalty revenue based on its contractual agreements with intellectual property licensees. The Company recognizes royalty revenue when earned under the terms of the agreements and when the Company considers realization of payment to be probable. Where royalties are based on a percentage of licensee sales of royalty-bearing products, the Company recognizes royalty revenue by applying this percentage to the Company’s estimate of applicable licensee sales. The Company bases this estimate on an analysis of each licensee’s sales results. Where warranted, revenue from licensees for contractual obligations such as License Initiation Fees are recognized upon satisfaction of all conditions required to be satisfied in order for that revenue to have been earned by the Company.

INTEREST RECEIVABLE

M. INTEREST RECEIVABLE

Interest receivable is stated at cost, less impairment, if any.

XML 30 R20.htm IDEA: XBRL DOCUMENT v3.21.4
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Schedule of Derivative Liability
       
Risk Free Interest Rate     1.49 %
Expected Term     .(0.66) – (1.85) Yrs  
Expected Volatility     824.95 %
Expected Dividends        
Schedule of notes receivable
     
Zander Therapeutics, Inc.  $5,396 
XML 31 R21.htm IDEA: XBRL DOCUMENT v3.21.4
NOTES PAYABLE (Tables)
3 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Schedule of notes payable related party
   
   As of December 31, 2021
David Koos  $227 
Total:  $227 
Schedule of non related party
     
Coventry Enterprises LLC,  $1,500,000 
Total:  $1,500,000 
XML 32 R22.htm IDEA: XBRL DOCUMENT v3.21.4
INVESTMENT SECURITIES, RELATED PARY (Tables)
3 Months Ended
Dec. 31, 2021
Investment Securities Related Pary  
Schedule of dividend income
     
Fair Value of Intellectual Property  $1,500 
Prepaid Expenses   74,298 
Due from Employee   1,071 
Note Receivable   64,400 
Accrued Interest Receivable   20,274 
Investment Securities   593,357 
Convertible Note Receivable   10,000 
Accounts Payable   1,269,041 
Notes Payable   500,000 
Accrued Expenses Related Parties   89,529 
Accrued Expenses   203,037 
Enterprise Value   2,826,507 
Less: Total Debt   (2,061,607)
Portion of Enterprise Value Attributable to Shareholders   764,900 
Fair Value  Per Share  $0.0167 
Schedule of comprehensive income
               
470,588 Common Shares of Zander Therapeutics, Inc.
              
 Basis     Fair Value    

Total Unrealized Gains

  Net Unrealized Gain or (Loss) realized during the quarter   ended December 31,2021
$5,741    $7,858   $2,118  $ 0

 

725,000 Series M Preferred of Zander Therapeutics, Inc.
              
 Basis     Fair Value    Total Unrealized Loss  Net Unrealized Gain or (Loss) realized during the quarter  ended September 30,2021
$13,124    $12,109   $(1,104) $ 0
XML 33 R23.htm IDEA: XBRL DOCUMENT v3.21.4
INVESTMENT SECURITIES (Tables)
3 Months Ended
Dec. 31, 2021
Disclosure Investment Securities Abstract  
Schedule of investment securities
                     
18,300 Common Shares of Oncology Pharma, Inc.
                     
  Basis       Fair Value       Total Unrealized Losses   Net Unrealized Gain or (Loss) realized during the quarter    ended December 31,2021
$ 677,100     $ 74,115     $ 602,985   $ (123,891)  
XML 34 R24.htm IDEA: XBRL DOCUMENT v3.21.4
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)
3 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Line Items]  
Risk Free Interest Rate 1.49%
Expected Volatility 824.95%
Maximum [Member]  
Property, Plant and Equipment [Line Items]  
Expected Term 7 months 28 days
Minimum [Member]  
Property, Plant and Equipment [Line Items]  
Expected Term 1 year 10 months 6 days
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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1)
Dec. 31, 2021
USD ($)
Zander Therapeutics  
Defined Benefit Plan Disclosure [Line Items]  
Long-term Investments and Receivables, Net $ 5,396
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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)
3 Months Ended
Dec. 31, 2021
Dec. 30, 2020
Accounting Policies [Abstract]    
Valuation allowance 100.00%  
Advertising expenses $ 0 $ 0
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GOING CONCERN (Details Narrative)
116 Months Ended
Dec. 31, 2021
USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Net loss since inception $ 20,703,920
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NOTES PAYABLE (Details)
Dec. 31, 2021
USD ($)
Short-term Debt [Line Items]  
Notes Payable $ 227
David Koos  
Short-term Debt [Line Items]  
Notes Payable $ 227
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NOTES PAYABLE (Details 1)
Dec. 31, 2021
USD ($)
Short-term Debt [Line Items]  
Notes Payable $ 1,500,000
Coventry Enterprises L L C [Member]  
Short-term Debt [Line Items]  
Notes Payable $ 1,500,000
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NOTES PAYABLE (Details Narrative) - USD ($)
1 Months Ended 3 Months Ended
Sep. 17, 2021
Dec. 31, 2021
Dec. 31, 2020
Debt instrument interest rate 5.00%    
Principal amount $ 1,500,000    
Original ssue discount 75,000    
Transaction cost 35,000    
Paymemt for fee 1,390,000    
Interest amount 62,500 $ 28,973
Periodic payments $ 312,500    
Unamortized discount   48,597  
David Koos      
Note payable   $ 227  
Debt instrument interest rate   15.00%  
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CONVERTIBLE NOTES PAYABLE (Details Narrative)
3 Months Ended
Dec. 31, 2021
USD ($)
Short-term Debt [Line Items]  
Unamortized discount $ 48,597
Convertible Note; March 8, 2016  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 100,000
Cash issued for convertible note $ 100,000
Convertible note, interest rate 8.00%
Beneficial conversion feature $ 42,600
Unamortized discount 0
Outstanding balance 100,000
Convertible Note; April 6, 2016  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 50,000
Cash issued for convertible note $ 50,000
Convertible note, interest rate 8.00%
Beneficial conversion feature $ 9,900
Unamortized discount 0
Outstanding balance 50,000
Convertible Note; October 31, 2016  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 50,000
Cash issued for convertible note $ 50,000
Convertible note, interest rate 10.00%
Beneficial conversion feature $ 50,000
Unamortized discount 0
Outstanding balance 50,000
Convertible Note #2; October 31, 2016  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 50,000
Cash issued for convertible note $ 50,000
Convertible note, interest rate 10.00%
Beneficial conversion feature $ 50,000
Unamortized discount 0
Outstanding balance 50,000
Convertible Note #3; October 31, 2016  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 50,000
Cash issued for convertible note $ 50,000
Convertible note, interest rate 10.00%
Beneficial conversion feature $ 50,000
Unamortized discount 0
Outstanding balance 50,000
Convertible Note; March 13, 2017  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 50,000
Cash issued for convertible note $ 50,000
Convertible note, interest rate 10.00%
Unamortized discount $ 0
Outstanding balance 50,000
Converted value that exceeds the principal amount 50,000
Derivative Liability 204,082
Convertible Note: March 31, 2017  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 50,000
Cash issued for convertible note $ 50,000
Convertible note, interest rate 10.00%
Unamortized discount $ 0
Outstanding balance 50,000
Converted value that exceeds the principal amount 50,000
Derivative Liability 204,082
Convertible Note; April 19, 2017  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 50,000
Cash issued for convertible note $ 50,000
Convertible note, interest rate 10.00%
Unamortized discount $ 0
Outstanding balance 50,000
Converted value that exceeds the principal amount 50,000
Derivative Liability 204,082
Convertible Note; May 5, 2017  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 200,000
Cash issued for convertible note $ 200,000
Convertible note, interest rate 10.00%
Unamortized discount $ 0
Outstanding balance 200,000
Converted value that exceeds the principal amount 200,000
Derivative Liability 816,327
Convertible Note; June 26, 2017  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 150,000
Cash issued for convertible note $ 150,000
Convertible note, interest rate 10.00%
Unamortized discount $ 0
Outstanding balance 150,000
Converted value that exceeds the principal amount 150,000
Derivative Liability 612,245
Convertible Note; September 25, 2017  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 50,000
Cash issued for convertible note $ 50,000
Convertible note, interest rate 10.00%
Unamortized discount $ 0
Outstanding balance 50,000
Converted value that exceeds the principal amount 50,000
Derivative Liability 204,082
Convertible Note; October 3, 2017  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 50,000
Cash issued for convertible note $ 50,000
Convertible note, interest rate 10.00%
Unamortized discount $ 0
Outstanding balance 50,000
Converted value that exceeds the principal amount 50,000
Derivative Liability 204,082
Convertible Note; October 16, 2017  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 100,000
Cash issued for convertible note $ 100,000
Convertible note, interest rate 10.00%
Unamortized discount $ 0
Outstanding balance 100,000
Converted value that exceeds the principal amount 100,000
Derivative Liability 408,163
Convertible Note; November 01, 2017  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 25,000
Cash issued for convertible note $ 25,000
Convertible note, interest rate 10.00%
Unamortized discount $ 0
Outstanding balance 25,000
Converted value that exceeds the principal amount 25,000
Derivative Liability 102,041
Convertible Note; #2 November 1, 2017  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 25,000
Cash issued for convertible note $ 25,000
Convertible note, interest rate 10.00%
Unamortized discount $ 0
Outstanding balance 25,000
Converted value that exceeds the principal amount 25,000
Derivative Liability 102,041
Convertible Note; December 20, 2017  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 100,000
Cash issued for convertible note $ 100,000
Convertible note, interest rate 10.00%
Unamortized discount $ 0
Outstanding balance 100,000
Converted value that exceeds the principal amount 100,000
Derivative Liability 408,163
Convertible Note; February 28, 2018  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 100,000
Cash issued for convertible note $ 100,000
Convertible note, interest rate 10.00%
Unamortized discount $ 0
Outstanding balance 100,000
Converted value that exceeds the principal amount 100,000
Derivative Liability 408,163
Convertible Note; July 11, 2018  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 11,500
Cash issued for convertible note $ 11,500
Convertible note, interest rate 10.00%
Unamortized discount $ 0
Outstanding balance 11,500
Converted value that exceeds the principal amount 11,500
Derivative Liability 46,938
Convertible Note; September 30, 2018  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 350,000
Cash issued for convertible note $ 350,000
Convertible note, interest rate 10.00%
Beneficial conversion feature $ 350,000
Unamortized discount 0
Outstanding balance 10,000
Converted value that exceeds the principal amount 10,000
Convertible Note; July 19, 2019  
Short-term Debt [Line Items]  
Convertible note issued and outstanding 100,000
Cash issued for convertible note 95,000
Unamortized discount 0
Outstanding balance 1,000
Derivative Liability $ 3,048
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RELATED PARTY TRANSACTIONS (Details Narrative)
Dec. 31, 2021
USD ($)
Short-term Debt [Line Items]  
Notes Payable, related party $ 227
Convertible Note; September 30, 2018  
Short-term Debt [Line Items]  
Convertible Notes Payable, Current 350,000
Notes Payable, Current 10,000
David Koos  
Short-term Debt [Line Items]  
Notes Payable, related party 227
Notes payable $ 227
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STOCKHOLDERS’ EQUITY (Details Narrative) - $ / shares
Dec. 31, 2021
Sep. 30, 2021
Class of Stock [Line Items]    
Common Stock, Par or Stated Value Per Share $ 0.0001 $ 0.0001
Common stock, authorized 4,800,000,000 4,800,000,000
Common stock issued 4,564,002,832 4,350,554,514
Common stock outstanding 4,564,002,832 4,350,554,514
Preferred stock, par value $ 0.0001 $ 0.0001
Preferred stock, shares authorized 800,000,000 800,000,000
Series A A Preferred Stock [Member]    
Class of Stock [Line Items]    
Preferred stock, par value $ 0.0001 $ 0.0001
Preferred stock, shares authorized 600,000 600,000
Preferred stock, shares issued and outstanding 50,000  
Preferred stock, shares outstanding 50,000 50,000
Series A Preferred Stock [Member]    
Class of Stock [Line Items]    
Preferred stock, shares authorized 300,000,000 300,000,000
Preferred stock, shares outstanding 439,293,406 431,998,817
Series M [Member]    
Class of Stock [Line Items]    
Preferred stock, par value $ 0.0001 $ 0.0001
Preferred stock, shares authorized 300,000,000 300,000,000
Preferred stock, shares outstanding 44,000,000 44,000,000
Series N C [Member]    
Class of Stock [Line Items]    
Preferred stock, par value $ 0.0001 $ 0.0001
Preferred stock, shares authorized 20,000 0
Preferred stock, shares outstanding 10,000 0
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INVESTMENT SECURITIES, RELATED PARY (Details) - USD ($)
Dec. 31, 2021
Sep. 30, 2021
Prepaid Expenses $ 41,288 $ 48,144
Accrued Interest Receivable 365 230
Accounts Payable 32,288 $ 91,498
Common Stock [Member] | Zander Therapeutics    
Fair Value of Intellectual Property 1,500  
Prepaid Expenses 74,298  
Due from Employee 1,071  
Note Receivable 64,400  
Accrued Interest Receivable 20,274  
Investment Securities 593,357  
Convertible Note Receivable 10,000  
Accounts Payable 1,269,041  
Notes Payable 500,000  
Accrued Expenses, Related Party 89,529  
Accrued Expenses 203,037  
Enterprise Value 2,826,507  
Less: Total Debt 2,061,607  
Portion of Enterprise Value attributable to Shareholders $ 764,900  
Fair Value per share $ 0.0167  
Series M [Member] | Zander Therapeutics    
Fair Value of Intellectual Property $ 1,500  
Prepaid Expenses 74,298  
Due from Employee 1,071  
Note Receivable 64,400  
Accrued Interest Receivable 20,274  
Investment Securities 593,357  
Convertible Note Receivable 10,000  
Accounts Payable 1,269,041  
Notes Payable 500,000  
Accrued Expenses, Related Party 89,529  
Accrued Expenses 203,037  
Enterprise Value 2,826,507  
Less: Total Debt 2,061,607  
Portion of Enterprise Value attributable to Shareholders $ 764,900  
Fair Value per share $ 0.0167  
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INVESTMENT SECURITIES, RELATED PARY (Details 1) - USD ($)
3 Months Ended
Dec. 31, 2021
Sep. 30, 2021
Investment Securities, Fair Value $ 74,115 $ 198,006
Common Stock [Member] | Zander Therapeutics    
Investment Securities, Basis 5,741  
Investment Securities, Fair Value 7,858  
Investment Securities, Total Unrealized Gain 2,118  
Investment Securities, net Unrealized Gain or (Loss) realized 0  
Series M [Member] | Zander Therapeutics    
Investment Securities, Basis 13,124  
Investment Securities, Fair Value 12,109  
Investment Securities, Total Unrealized Gain (1,104)  
Investment Securities, net Unrealized Gain or (Loss) realized $ 0  
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INVESTMENT SECURITIES, RELATED PARY (Details Narrative) - Zander Therapeutics - USD ($)
1 Months Ended 3 Months Ended
Jun. 11, 2019
Nov. 29, 2019
Dec. 31, 2021
Number of shares issued for property dividend 470,588   470,588
Series M [Member]      
Number of shares issued in satisfaction of prepaid rent and accrued interest   725,000 725,000
Shares issued in satisfaction of prepaid rent and accrued interest, value   $ 13,124  
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INVESTMENT SECURITIES (Details) - USD ($)
3 Months Ended
Dec. 31, 2021
Sep. 30, 2021
Available-for-sale Securities $ 74,115 $ 198,006
Common Stock [Member] | Oncology Pharma [Member]    
Investment Securities, Basis 677,100  
Available-for-sale Securities 74,115  
Investment Securities, Total Unrealized Gain 602,985  
Series M [Member] | Oncology Pharma [Member]    
Equity Securities, FV-NI, Unrealized Gain (Loss) $ (123,891)  
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INVESTMENT SECURITIES (Details Narrative) - Unrelated Party [Member] - USD ($)
3 Months Ended
Sep. 30, 2021
Jun. 30, 2021
Defined Benefit Plan Disclosure [Line Items]    
Number of shares sold 18,000 13,000
Proceeds from Issuance or Sale of Equity $ 195,000 $ 300,000
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STOCK TRANSACTIONS (Details Narrative) - Convertible Debt [Member] - USD ($)
1 Months Ended
Dec. 10, 2021
Nov. 04, 2021
Oct. 02, 2021
Nov. 24, 2021
Oct. 29, 2021
Common Stock [Member]          
Short-term Debt [Line Items]          
Shares issued in satisfaction of convertible identedness   8,626,613 101,718,058 77,355,500 25,748,147
Value of shares issued in satisdaction of convertible debt   $ 50,000 $ 425,000 $ 95,964 $ 140,000
Accrued Interest   $ 69,012 $ 154,991 $ 36,967 $ 54,000
Series A Preferred Stock [Member]          
Short-term Debt [Line Items]          
Shares issued in satisfaction of convertible identedness 1,425,000   5,869,589    
Value of shares issued in satisdaction of convertible debt $ 25,000   $ 50,000    
Accrued Interest $ 10,625   $ 23,369    
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1956 1294 3250 82004603 8200 -2870 5330 35832781 3583 -1254 2329 1865 1865 1666367 1666367 414147858 41415 50000 5 2260025066 226001 44000000 4400 8330646 -14917299 733576 -5581256 431998817 43200 50000 5 10000 1 4350554514 435054 44000000 4400 8644037 -23348900 736326 -13485877 10000000 1000 99000 100000 2666200 267 26395 26662 10000000 1000 99000 100000 3883700 388 38449 38837 6022971 602 49398 50000 2361366 236 19367 19603 15503953 1550 48450 50000 5759719 576 17999 18575 23255888 2326 72674 75000 9945768 995 31080 32075 7751973 775 24225 25000 3211178 321 10035 10356 1000016 100 24900 25000 355326 36 8847 8883 4000047 400 49600 50000 1869542 187 23182 23369 10256427 1026 98974 100000 4082878 408 39400 39808 8421053 842 39158 40000 2987789 299 13893 14192 6250082 625 49375 50000 2376531 238 18774 19012 72476800 7248 3716 10964 1000014 100 24900 25000 461086 46 11481 11527 2400000 240 59760 60000 1017600 102 25338 25440 1000000 100 24900 25000 425000 43 10583 10625 2644980 2644980 439293406 43929 50000 5 10000 1 4564002832 456399 44000000 4400 9706891 -20703920 -9755969 2644980 1666367 -159 22451 36717 -59210 3369 27425 27425 6036 113712 -6856 -12 1865 -2964939 -1794776 -31640 135 -123891 -279135 -94535 0 -94535 0 -373670 0 727162 353492 710964 48941 75000 13000 28973 264970 15721 33994 8046 <p id="xdx_805_eus-gaap--OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_zzYKqNUho8og" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">NOTE 1. <span id="xdx_827_zZWoTcUN4tCk">ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company was organized April 24, 2012 under the laws of the State of Nevada </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company intends to engage primarily in the development of regenerative medical applications which we intend to license from other entities up to the point of successful completion of Phase I and or Phase II clinical trials after which we would either attempt to sell or license those developed applications or, alternatively, advance the application further to Phase III clinical trials.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company is currently engaged in actively identifying small molecules that inhibit or express NR2F6 leading to immune cell activation for oncology applications and immune cell suppression for autoimmune disease.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company is in the early stages of development of its proposed products and therapies. The Company will be required to obtain approval from the FDA in order to market any of The Company’s products or therapies. No approval has been granted by the FDA for the marketing and sale of any of the Company’s products and therapies and no assurance may be given that any of the Company’s products or therapies will be granted such approval. The Company’s current plans include the development of regenerative medical applications up to the point of successful completion of Phase I and/ or Phase II clinical trials after which the Company would either attempt to sell or license those developed applications or, alternatively, advance the application further to Phase III clinical trials. The Company can provide no assurance that the Company will be able to sell or license any product or that, if such product is sold or licensed, such sale or license will be on terms favorable to the Company.</span></p> <p id="xdx_84E_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_z8gKyfXWlLZ9" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">A. <span id="xdx_867_zeyDnqef0Y3">BASIS OF ACCOUNTING</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The financial statements have been prepared using the basis of accounting generally accepted in the United States of America. Under this basis of accounting, revenues are recorded as earned and expenses are recorded at the time liabilities are incurred. The Company has adopted a September 30 year-end.</span></p> <p id="xdx_84A_eus-gaap--ConsolidationPolicyTextBlock_zdAO5c43pRBb" style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">B. <span id="xdx_863_zrD2qDQPkBn3">PRINCIPLES OF CONSOLIDATION</span></span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The consolidated financial statements include the accounts of KCL Therapeutics, Inc., a Nevada corporation and wholly owned subsidiary of Regen. Significant inter-company transactions have been eliminated.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company analyzes the conversion feature of Convertible Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change. The Company values the embedded derivative using the Black-Scholes pricing model.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Black Scholes pricing model used to determine the Derivative Liability on convertible notes issued by the Company in which an embedded derivative is recognized as of December 31, 2021 utilized the following inputs:</span></p> <table cellpadding="0" cellspacing="0" id="xdx_886_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_zuArwRGRcOa8" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: justify"><span id="xdx_8BF_zgoy8aHr1Tjk" style="display: none">Schedule of Derivative Liability</span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"> </td> <td style="font: 10pt/107% Times New Roman, Times, Serif"> </td> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt/107% Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt/107% Times New Roman, Times, Serif; width: 71%; text-align: justify"><span style="font: 10pt/107% Times New Roman, Times, Serif">Risk Free Interest Rate</span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; width: 10%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; width: 1%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; width: 17%; text-align: right"><span style="font: 10pt/107% Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20211001__20211231_zLehm6onqHLi" title="Risk Free Interest Rate">1.49</span></span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; width: 1%"><span style="font: 10pt/107% Times New Roman, Times, Serif">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt/107% Times New Roman, Times, Serif">Expected Term</span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt/107% Times New Roman, Times, Serif">.(<span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20211001__20211231__srt--RangeAxis__srt--MaximumMember_zCJsNepExmS1" title="Expected Term">0.66</span>) – (<span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20211001__20211231__srt--RangeAxis__srt--MinimumMember_zbN0qdJbDItd" title="Expected Term">1.85</span>) Yrs</span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt/107% Times New Roman, Times, Serif">Expected Volatility</span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt/107% Times New Roman, Times, Serif"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20211001__20211231_zWCMwzeXgOXg" title="Expected Volatility">824.95</span></span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt/107% Times New Roman, Times, Serif">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white"> <td style="font: 10pt/107% Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><span style="font: 10pt/107% Times New Roman, Times, Serif">Expected Dividends</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"/> <p id="xdx_849_eus-gaap--IncomeTaxPolicyTextBlock_zohFbVzePEVh" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">H. <span id="xdx_867_zpuHoKobnxUa">INCOME TAXES</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company accounts for income taxes using the liability method prescribed by ASC 740, “Income Taxes.” Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company applied the provisions of ASC 740-10-50, “Accounting For Uncertainty In Income Taxes”, which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. As of September 30, 2021 the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company generated a deferred tax credit through net operating loss carry forward.  However, a valuation allowance of <span id="xdx_907_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_dp_c20211001__20211231_zwuEhiOp0pCk" title="Valuation allowance">100</span>% has been established.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Interest and penalties on tax deficiencies recognized in accordance with ACS accounting standards are classified as income taxes in accordance with ASC Topic 740-10-50-19.</span></p> <p id="xdx_846_eus-gaap--EarningsPerSharePolicyTextBlock_zdrK2bCm8uj5" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">I.  <span id="xdx_86B_zt8Er2y1nEL">BASIC EARNINGS (LOSS) PER SHARE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 260, “Earnings Per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. ASC 260 requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. The Company has adopted the provisions of ASC 260 effective from inception.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Basic net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding.</span></p> <p id="xdx_84E_eus-gaap--AdvertisingCostsPolicyTextBlock_zjDbvBEIcsai" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif"><br/> J. <span id="xdx_866_zzB4EEwheMIf">ADVERTISING</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Costs associated with advertising are charged to expense as incurred. Advertising expenses were $<span id="xdx_90D_eus-gaap--AdvertisingExpense_c20201001__20201230_pp0p0" title="Advertising expenses"><span id="xdx_903_eus-gaap--AdvertisingExpense_c20211001__20211231_pp0p0" title="Advertising expenses">0</span></span> for the quarters ended December 31,2020 and December 31, 2021..</span></p> <p id="xdx_840_eus-gaap--ReceivablesPolicyTextBlock_zzwqCI7tX2V1" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">K. <span id="xdx_866_zyzVQ2ojxS48">NOTES RECEIVABLE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Notes receivable are stated at cost, less impairment, if any.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31,2021 the Company has the following Notes Receivable</span></p> <table cellpadding="0" cellspacing="0" id="xdx_88D_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zknlcp1Gsz1i" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span id="xdx_8BC_zMNK6ehzbVwf" style="display: none"><span id="xdx_8BC_zS5jcJu4hJA6" style="display: none">Schedule of notes receivable</span></span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 70%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">Zander Therapeutics, Inc.</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_986_eus-gaap--LongTermInvestmentsAndReceivablesNet_c20211231__us-gaap--RelatedPartyTransactionAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right" title="Long-term Investments and Receivables, Net"><span style="font: 10pt Times New Roman, Times, Serif">5,396</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"/> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">$5,396 owed to the Company by Zander Therapeutics, Inc. bears simple interest at 10% and is due upon the demand of the Company.</span></p> <p id="xdx_842_eus-gaap--RevenueRecognitionPolicyTextBlock_z7aeYbjknDL6" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">L. <span id="xdx_867_zjFrC1YQsYl2">REVENUE RECOGNITION</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Sales of products and related costs of products sold are recognized when: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred; (iii) the price is fixed or determinable; and (iv) collectability is reasonably assured. These terms are typically met upon the prepayment or invoicing and shipment of products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company determines the amount and timing of royalty revenue based on its contractual agreements with intellectual property licensees. The Company recognizes royalty revenue when earned under the terms of the agreements and when the Company considers realization of payment to be probable. Where royalties are based on a percentage of licensee sales of royalty-bearing products, the Company recognizes royalty revenue by applying this percentage to the Company’s estimate of applicable licensee sales. The Company bases this estimate on an analysis of each licensee’s sales results. Where warranted, revenue from licensees for contractual obligations such as License Initiation Fees are recognized upon satisfaction of all conditions required to be satisfied in order for that revenue to have been earned by the Company.</span></p> <p id="xdx_84A_ecustom--InterestReceivablePolicyTextBlock_zsITTmturXOg" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">M. <span id="xdx_860_z6njVT9btnyi">INTEREST RECEIVABLE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Interest receivable is stated at cost, less impairment, if any.</span></p> <p id="xdx_84E_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_z8gKyfXWlLZ9" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">A. <span id="xdx_867_zeyDnqef0Y3">BASIS OF ACCOUNTING</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The financial statements have been prepared using the basis of accounting generally accepted in the United States of America. Under this basis of accounting, revenues are recorded as earned and expenses are recorded at the time liabilities are incurred. The Company has adopted a September 30 year-end.</span></p> <p id="xdx_84A_eus-gaap--ConsolidationPolicyTextBlock_zdAO5c43pRBb" style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">B. <span id="xdx_863_zrD2qDQPkBn3">PRINCIPLES OF CONSOLIDATION</span></span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The consolidated financial statements include the accounts of KCL Therapeutics, Inc., a Nevada corporation and wholly owned subsidiary of Regen. Significant inter-company transactions have been eliminated.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company analyzes the conversion feature of Convertible Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change. The Company values the embedded derivative using the Black-Scholes pricing model.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Black Scholes pricing model used to determine the Derivative Liability on convertible notes issued by the Company in which an embedded derivative is recognized as of December 31, 2021 utilized the following inputs:</span></p> <table cellpadding="0" cellspacing="0" id="xdx_886_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_zuArwRGRcOa8" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: justify"><span id="xdx_8BF_zgoy8aHr1Tjk" style="display: none">Schedule of Derivative Liability</span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"> </td> <td style="font: 10pt/107% Times New Roman, Times, Serif"> </td> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt/107% Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt/107% Times New Roman, Times, Serif; width: 71%; text-align: justify"><span style="font: 10pt/107% Times New Roman, Times, Serif">Risk Free Interest Rate</span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; width: 10%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; width: 1%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; width: 17%; text-align: right"><span style="font: 10pt/107% Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20211001__20211231_zLehm6onqHLi" title="Risk Free Interest Rate">1.49</span></span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; width: 1%"><span style="font: 10pt/107% Times New Roman, Times, Serif">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt/107% Times New Roman, Times, Serif">Expected Term</span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt/107% Times New Roman, Times, Serif">.(<span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20211001__20211231__srt--RangeAxis__srt--MaximumMember_zCJsNepExmS1" title="Expected Term">0.66</span>) – (<span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20211001__20211231__srt--RangeAxis__srt--MinimumMember_zbN0qdJbDItd" title="Expected Term">1.85</span>) Yrs</span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt/107% Times New Roman, Times, Serif">Expected Volatility</span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt/107% Times New Roman, Times, Serif"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20211001__20211231_zWCMwzeXgOXg" title="Expected Volatility">824.95</span></span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt/107% Times New Roman, Times, Serif">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white"> <td style="font: 10pt/107% Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><span style="font: 10pt/107% Times New Roman, Times, Serif">Expected Dividends</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"/> <table cellpadding="0" cellspacing="0" id="xdx_886_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_zuArwRGRcOa8" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: justify"><span id="xdx_8BF_zgoy8aHr1Tjk" style="display: none">Schedule of Derivative Liability</span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"> </td> <td style="font: 10pt/107% Times New Roman, Times, Serif"> </td> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt/107% Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt/107% Times New Roman, Times, Serif; width: 71%; text-align: justify"><span style="font: 10pt/107% Times New Roman, Times, Serif">Risk Free Interest Rate</span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; width: 10%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; width: 1%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; width: 17%; text-align: right"><span style="font: 10pt/107% Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20211001__20211231_zLehm6onqHLi" title="Risk Free Interest Rate">1.49</span></span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; width: 1%"><span style="font: 10pt/107% Times New Roman, Times, Serif">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt/107% Times New Roman, Times, Serif">Expected Term</span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt/107% Times New Roman, Times, Serif">.(<span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20211001__20211231__srt--RangeAxis__srt--MaximumMember_zCJsNepExmS1" title="Expected Term">0.66</span>) – (<span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20211001__20211231__srt--RangeAxis__srt--MinimumMember_zbN0qdJbDItd" title="Expected Term">1.85</span>) Yrs</span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt/107% Times New Roman, Times, Serif">Expected Volatility</span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt/107% Times New Roman, Times, Serif"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20211001__20211231_zWCMwzeXgOXg" title="Expected Volatility">824.95</span></span></td> <td style="font: 10pt/107% Times New Roman, Times, Serif"><span style="font: 10pt/107% Times New Roman, Times, Serif">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white"> <td style="font: 10pt/107% Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><span style="font: 10pt/107% Times New Roman, Times, Serif">Expected Dividends</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> </table> 0.0149 P0Y7M28D P1Y10M6D 8.2495 <p id="xdx_849_eus-gaap--IncomeTaxPolicyTextBlock_zohFbVzePEVh" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">H. <span id="xdx_867_zpuHoKobnxUa">INCOME TAXES</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company accounts for income taxes using the liability method prescribed by ASC 740, “Income Taxes.” Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company applied the provisions of ASC 740-10-50, “Accounting For Uncertainty In Income Taxes”, which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. As of September 30, 2021 the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company generated a deferred tax credit through net operating loss carry forward.  However, a valuation allowance of <span id="xdx_907_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_dp_c20211001__20211231_zwuEhiOp0pCk" title="Valuation allowance">100</span>% has been established.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Interest and penalties on tax deficiencies recognized in accordance with ACS accounting standards are classified as income taxes in accordance with ASC Topic 740-10-50-19.</span></p> 1 <p id="xdx_846_eus-gaap--EarningsPerSharePolicyTextBlock_zdrK2bCm8uj5" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">I.  <span id="xdx_86B_zt8Er2y1nEL">BASIC EARNINGS (LOSS) PER SHARE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 260, “Earnings Per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. ASC 260 requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. The Company has adopted the provisions of ASC 260 effective from inception.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Basic net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding.</span></p> <p id="xdx_84E_eus-gaap--AdvertisingCostsPolicyTextBlock_zjDbvBEIcsai" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif"><br/> J. <span id="xdx_866_zzB4EEwheMIf">ADVERTISING</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Costs associated with advertising are charged to expense as incurred. Advertising expenses were $<span id="xdx_90D_eus-gaap--AdvertisingExpense_c20201001__20201230_pp0p0" title="Advertising expenses"><span id="xdx_903_eus-gaap--AdvertisingExpense_c20211001__20211231_pp0p0" title="Advertising expenses">0</span></span> for the quarters ended December 31,2020 and December 31, 2021..</span></p> 0 0 <p id="xdx_840_eus-gaap--ReceivablesPolicyTextBlock_zzwqCI7tX2V1" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">K. <span id="xdx_866_zyzVQ2ojxS48">NOTES RECEIVABLE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Notes receivable are stated at cost, less impairment, if any.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31,2021 the Company has the following Notes Receivable</span></p> <table cellpadding="0" cellspacing="0" id="xdx_88D_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zknlcp1Gsz1i" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span id="xdx_8BC_zMNK6ehzbVwf" style="display: none"><span id="xdx_8BC_zS5jcJu4hJA6" style="display: none">Schedule of notes receivable</span></span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 70%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">Zander Therapeutics, Inc.</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_986_eus-gaap--LongTermInvestmentsAndReceivablesNet_c20211231__us-gaap--RelatedPartyTransactionAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right" title="Long-term Investments and Receivables, Net"><span style="font: 10pt Times New Roman, Times, Serif">5,396</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"/> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">$5,396 owed to the Company by Zander Therapeutics, Inc. bears simple interest at 10% and is due upon the demand of the Company.</span></p> <table cellpadding="0" cellspacing="0" id="xdx_88D_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zknlcp1Gsz1i" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span id="xdx_8BC_zMNK6ehzbVwf" style="display: none"><span id="xdx_8BC_zS5jcJu4hJA6" style="display: none">Schedule of notes receivable</span></span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 70%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">Zander Therapeutics, Inc.</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_986_eus-gaap--LongTermInvestmentsAndReceivablesNet_c20211231__us-gaap--RelatedPartyTransactionAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right" title="Long-term Investments and Receivables, Net"><span style="font: 10pt Times New Roman, Times, Serif">5,396</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> </table> 5396 <p id="xdx_842_eus-gaap--RevenueRecognitionPolicyTextBlock_z7aeYbjknDL6" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">L. <span id="xdx_867_zjFrC1YQsYl2">REVENUE RECOGNITION</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Sales of products and related costs of products sold are recognized when: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred; (iii) the price is fixed or determinable; and (iv) collectability is reasonably assured. These terms are typically met upon the prepayment or invoicing and shipment of products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company determines the amount and timing of royalty revenue based on its contractual agreements with intellectual property licensees. The Company recognizes royalty revenue when earned under the terms of the agreements and when the Company considers realization of payment to be probable. Where royalties are based on a percentage of licensee sales of royalty-bearing products, the Company recognizes royalty revenue by applying this percentage to the Company’s estimate of applicable licensee sales. The Company bases this estimate on an analysis of each licensee’s sales results. Where warranted, revenue from licensees for contractual obligations such as License Initiation Fees are recognized upon satisfaction of all conditions required to be satisfied in order for that revenue to have been earned by the Company.</span></p> <p id="xdx_84A_ecustom--InterestReceivablePolicyTextBlock_zsITTmturXOg" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">M. <span id="xdx_860_z6njVT9btnyi">INTEREST RECEIVABLE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Interest receivable is stated at cost, less impairment, if any.</span></p> <p id="xdx_80D_eus-gaap--NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock_zK3LiEayKrY9" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">NOTE 2.  <span id="xdx_825_zu7FPVBr9e98">RECENT ACCOUNTING PRONOUNCEMENTS</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">In June 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-10, which eliminated certain financial reporting requirements of companies previously identified as “Development Stage Entities” (Topic 915). The amendments in this ASU simplify accounting guidance by removing all incremental financial reporting requirements for development stage entities. The amendments also reduce data maintenance and, for those entities subject to audit, audit costs by eliminating the requirement for development stage entities to present inception-to-date information in the statements of income, cash flows, and shareholder equity. Early application of each of the amendments is permitted for any annual reporting period or interim period for which the entity’s financial statements have not yet been issued (public business entities) or made available for issuance (other entities). Upon adoption, entities will no longer present or disclose any information required by Topic 915. The Company has adopted this standard.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">As of the fiscal year ending September 30, 2019 the Company has adopted Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance in this Update supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">In June 2014, FASB issued Accounting Standards Update (ASU) No. 2014-12 Compensation — Stock Compensation (Topic 718), Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. A performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition under Accounting Standards Codification (ASC) 718, Compensation — Stock Compensation. As a result, the target is not reflected in the estimation of the award’s grant date fair value. Compensation cost would be recognized over the required service period, if it is probable that the performance condition will be achieved. The guidance is effective for annual periods beginning after 15 December 2015 and interim periods within those annual periods. Early adoption is permitted. The Company has reviewed the applicable ASU and has not, at the current time, quantified the effects of this pronouncement, however it believes that there will be no material effect on the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">In August2014, FASB issued Accounting Standards Update (ASU) No. 2014-15 Preparation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Under generally accepted accounting principles (GAAP), continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity’s liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity’s liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting in accordance with Subtopic 205-30, Presentation of Financial Statements—Liquidation Basis of Accounting. Even when an entity’s liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern. In those situations, financial statements should continue to be prepared under the going concern basis of accounting, but the amendments in this Update should be followed to determine whether to disclose information about the relevant conditions and events. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company will evaluate the going concern considerations in this ASU, however, at the current period, management does not believe that it has met the conditions which would subject these financial statements for additional disclosure.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On January 31, 2013, the FASB issued Accounting Standards Update [ASU] 2013-01, entitled Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. The guidance in ASU 2013-01 amends the requirements in the FASB Accounting Standards Codification [FASB ASC] Topic 210, entitled Balance Sheet. The ASU 2013-01 amendments to FASB ASC 210 clarify that ordinary trade receivables and receivables in general are not within the scope of ASU 2011-11, entitled Disclosure about Offsetting Assets and Liabilities, where that ASU amended the guidance in FASB ASC 210. As those disclosures now are modified with the ASU 2013-01 amendments, the FASB ASC 210 balance sheet offsetting disclosures now clearly are applicable only where reporting entities are involved with bifurcated embedded derivatives, repurchase agreements, reverse repurchase agreements, and securities borrowing and lending transactions that either are offset using the FASB ASC 210 or 815 requirements, or that are subject to enforceable master netting arrangements or similar agreements. ASU 2013-01 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The adoption of this ASU is not expected to have a material impact on our financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On February 28, 2013, the FASB issued Accounting Standards Update [ASU] 2013-04, entitled Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date. The ASU 2013-04 amendments add to the guidance in FASB Accounting Standards Codification [FASB ASC] Topic 405, entitled Liabilities and require reporting entities to measure obligations resulting from certain joint and several liability arrangements where the total amount of the obligation is fixed as of the reporting date, as the sum of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The amount the reporting entity agreed to pay on the basis of its arrangement among co-obligors.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Any additional amounts the reporting entity expects to pay on behalf of its co-obligors.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">While early adoption of the amended guidance is permitted, for public companies, the guidance is required to be implemented in fiscal years, and interim periods within those years, beginning after December 15, 2013. The amendments need to be implemented retrospectively to all prior periods presented for obligations resulting from joint and several liability arrangements that exist at the beginning of the year of adoption. The adoption of ASU 2013-04 is not expected to have a material effect on the Company’s operating results or financial position.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On April 22, 2013, the FASB issued Accounting Standards Update [ASU] 2013-07, entitled Liquidation Basis of Accounting. With ASU 2013-07, the FASB amends the guidance in the FASB Accounting Standards Codification [FASB ASC] Topic 205, entitled Presentation of Financial Statements. The amendments serve to clarify when and how reporting entities should apply the liquidation basis of accounting. The guidance is applicable to all reporting entities, whether they are public or private companies or not-for-profit entities. The guidance also provides principles for the recognition of assets and liabilities and disclosures, as well as related financial statement presentation requirements. The requirements in ASU 2013-07 are effective for annual reporting periods beginning after December 15, 2013, and interim reporting periods within those annual periods. Reporting entities are required to apply the requirements in ASU 2013-07 prospectively from the day that liquidation becomes imminent. Early adoption is permitted. The adoption of ASU 2013-07 is not expected to have a material effect on the Company’s operating results or financial position.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In January 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2016-01, which amends the guidance in U.S. GAAP on the classification and measurement of financial instruments. Changes to the current guidance primarily affect the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the ASU clarifies guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The new standard is effective for fiscal years and interim periods beginning after December 15, 2017, and upon adoption, an entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet at the beginning of the first reporting period in which the guidance is effective. Early adoption is not permitted except for the provision to record fair value changes for financial liabilities under the fair value option resulting from instrument-specific credit risk in other comprehensive income. The Company adopted ASU 2016-01 as of the fiscal year ending September 30, 2019.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">A variety of proposed or otherwise potential accounting standards are currently under study by standard setting organizations and various regulatory agencies.  Due to the tentative and preliminary nature of those proposed standards, the Company’s management has not determined whether implementation of such standards would be material to its financial statements.<br/></span></p> <p id="xdx_80A_eus-gaap--SubstantialDoubtAboutGoingConcernTextBlock_zHpEF0ixnFvc" style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">NOTE 3. <span id="xdx_82C_zRqySZuQiux7">GOING CONCERN</span></span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company generated net losses of $<span id="xdx_90C_ecustom--NetIncomeLossSinceInception_pp0p0_c20120424__20211231_z9I56gM2qCGh" title="Net loss since inception">20,703,920</span> during the period from April 24, 2012 (inception) through December 31, 2021. This condition raises substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to meet its obligations, to obtain additional financing as may be required and ultimately to attain profitability. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Management plans to raise additional funds by offering securities for cash. Management has yet to decide what type of offering the Company will use or how much capital the Company will raise.</span></p> 20703920 <p id="xdx_80F_eus-gaap--DebtDisclosureTextBlock_zRZkNKDsMySd" style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">NOTE 4. <span id="xdx_820_zZR78ebztFh3">NOTES PAYABLE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif">(a) RELATED PARTY</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" id="xdx_885_eus-gaap--ScheduleOfDebtTableTextBlock_zYk0LVnyJfGk" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - NOTES PAYABLE (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B6_zdBFb7twAv2" style="display: none">Schedule of notes payable related party</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31, 2021</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 70%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">David Koos</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_98E_eus-gaap--NotesPayableRelatedPartiesClassifiedCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--DavidKoosMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right" title="Notes Payable"><span style="font: 10pt Times New Roman, Times, Serif">227</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">Total:</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_988_eus-gaap--NotesPayableRelatedPartiesClassifiedCurrent_c20211231_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Notes Payable"><span style="font: 10pt Times New Roman, Times, Serif">227</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"/> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">$<span id="xdx_904_eus-gaap--DebtInstrumentCarryingAmount_c20211231__dei--LegalEntityAxis__custom--DavidKoosMember_pp0p0" title="Note payable">227</span> lent to the Company by David Koos is due and payable at the demand of the holder and bears simple interest at a rate of <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20211001__20211231__dei--LegalEntityAxis__custom--DavidKoosMember_ztMn9inH0iUb" title="Debt instrument interest rate">15</span>% per annum.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif">(b) NON RELATED PARTY</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" id="xdx_88D_ecustom--NonRelatedPartyTextBlock_zdGQWryNRWVi" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - NOTES PAYABLE (Details 1)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8BC_z7WQkjU6W6t1" style="display: none">Schedule of non related party</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 70%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">Coventry Enterprises LLC,</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_984_eus-gaap--NotesPayableRelatedPartiesNoncurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--CoventryEnterprisesLLCMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right" title="Notes Payable"><span style="font: 10pt Times New Roman, Times, Serif">1,500,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">Total:</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_984_eus-gaap--NotesPayableRelatedPartiesNoncurrent_c20211231_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Notes Payable"><span style="font: 10pt Times New Roman, Times, Serif">1,500,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white"/> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On September 17,2021 the “Company” issued a promissory note in the principal amount of $<span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_c20210917_pp0p0" title="Principal amount">1,500,000</span> ( “Note”) of which $<span id="xdx_906_ecustom--OriginalSsueDiscount_c20210917_pp0p0" title="Original ssue discount">75,000</span> was retained by the Holder through an Original Issue Discount (“OID”) for due diligence and origination related to this transaction and Thirty-five Thousand Dollars $<span id="xdx_905_ecustom--TransactionCost_c20210917_pp0p0" title="Transaction cost">35,000</span> was remitted by the Holder, at the instance and on behalf of the Company, directly to Holder’s counsel for documentation preparation fees resulting in net consideration paid to the Company of $<span id="xdx_906_eus-gaap--PaymentsForFees_c20210901__20210917_pp0p0" title="Paymemt for fee">1,390,000</span>.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Note carries “Guaranteed Interest” on the principal amount at the rate of <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20210901__20210917_z3oLLnZFmns" title="Debt instrument interest rate">5</span>% per annum for the ten-month term of this Note for an aggregate Guaranteed Interest $<span id="xdx_908_eus-gaap--InterestPaid_c20210901__20210917_pp0p0" title="Interest amount">62,500</span> all of which Guaranteed Interest shall be deemed earned as of September 17, 2021.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Principal Amount and the Guaranteed Interest shall be due and payable in five equal monthly payments of $<span id="xdx_90B_eus-gaap--DebtInstrumentPeriodicPayment_c20210901__20210917_pp0p0" title="Periodic payments">312,500</span> commencing on March 17, 2022 and continuing on the 17th day of each month thereafter until paid in full not later than July 18, 2022 (the “Maturity Date”).</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Solely following an Event of Default (as such term is defined in the Note) the Note shall become convertible, in whole or in part, into shares of Common Stock at the option of the Holder. The conversion price of the Note is 90% of the lowest per-share Trading Price per share. Trading Price is defined as the lowest daily VWAP for the 20 Trading Days preceding a Conversion Date. VWAP is defined as the dollar volume-weighted average price for the common shares as reported by Bloomberg.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The OID is being amortized by the Company over the term of the Note. As of December 31 ,2021 the unamortized discount on this Note is $<span id="xdx_90A_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231_pp0p0" title="Unamortized discount">48,597</span>.</span></p> <table cellpadding="0" cellspacing="0" id="xdx_885_eus-gaap--ScheduleOfDebtTableTextBlock_zYk0LVnyJfGk" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - NOTES PAYABLE (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B6_zdBFb7twAv2" style="display: none">Schedule of notes payable related party</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31, 2021</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 70%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">David Koos</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_98E_eus-gaap--NotesPayableRelatedPartiesClassifiedCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--DavidKoosMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right" title="Notes Payable"><span style="font: 10pt Times New Roman, Times, Serif">227</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">Total:</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_988_eus-gaap--NotesPayableRelatedPartiesClassifiedCurrent_c20211231_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Notes Payable"><span style="font: 10pt Times New Roman, Times, Serif">227</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> </table> 227 227 227 0.15 <table cellpadding="0" cellspacing="0" id="xdx_88D_ecustom--NonRelatedPartyTextBlock_zdGQWryNRWVi" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - NOTES PAYABLE (Details 1)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8BC_z7WQkjU6W6t1" style="display: none">Schedule of non related party</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 70%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">Coventry Enterprises LLC,</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_984_eus-gaap--NotesPayableRelatedPartiesNoncurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--CoventryEnterprisesLLCMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right" title="Notes Payable"><span style="font: 10pt Times New Roman, Times, Serif">1,500,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">Total:</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_984_eus-gaap--NotesPayableRelatedPartiesNoncurrent_c20211231_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Notes Payable"><span style="font: 10pt Times New Roman, Times, Serif">1,500,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> </table> 1500000 1500000 1500000 75000 35000 1390000 0.05 62500 312500 48597 <p id="xdx_800_ecustom--ConvertibleNotesPayableTextBlock_zuhJ5QkQjb83" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">NOTE 5. <span id="xdx_825_zvFwHw0qjZT8">CONVERTIBLE NOTES PAYABLE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On March 8, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_903_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--March82016Member_pp0p0" title="Convertible note issued and outstanding">100,000</span> for consideration consisting of $<span id="xdx_905_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--March82016Member_pp0p0" title="Cash issued for convertible note">100,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--March82016Member_ze2S8NPCnwMe" title="Convertible note, interest rate">8</span>% per annum . The maturity of the Note is three years from the issue date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Common Stock shall hereafter be changed or reclassified pursuant to the following terms and conditions:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">(a) For the period beginning on the Issue Date and ending 365 days subsequent to the Issue Date (“Year 1”) a 50% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">(b) For the period beginning one day subsequent to the final day of Year One and ending 365 days subsequent to Year One (“Year 2”) a 35% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">(c) For the period beginning one day subsequent to the final day of Year 2 and ending 365 days subsequent to Year 2 (“Year 3”) a 25% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">(d) “Trading Price” means the closing bid price on the Over-the-Counter Bulletin Board, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Lender (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Company and the Lender. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded. “Trading Volume” shall mean the number of shares traded on such Trading Day as reported by such Reporting Service. The Conversion Price shall be equitably adjusted for stock splits, stock dividends, rights offerings, combinations, recapitalization, reclassifications, extraordinary distributions and similar events by the Company relating to the Lender’s securities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than five (5) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Upon closing of a Transaction Event the Lender shall receive 0 .10% ( one tenth of one percent)of the consideration actually received by the Company from an unaffiliated third party as a result of the closing of a Transaction Event.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"/> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">“Transaction Event” shall mean either of:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">(a) The sale by the Company of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">(b) The granting of a license by the Company to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The issuance of the Note amounted in a beneficial conversion feature of $<span id="xdx_90F_eus-gaap--DebtInstrumentConvertibleBeneficialConversionFeature_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--March82016Member_pp0p0" title="Beneficial conversion feature">42,600</span> which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $ <span id="xdx_908_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--March82016Member_pp0p0" title="Unamortized discount">0</span>. As of December 31, 2021 $<span id="xdx_904_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--March82016Member_pp0p0" title="Outstanding balance">100,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On April 6, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_908_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--April62016Member_pp0p0" title="Convertible note issued and outstanding">50,000</span> for consideration consisting of $<span id="xdx_90E_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--April62016Member_pp0p0" title="Cash issued for convertible note">50,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_903_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--April62016Member_zLUsULvgVdr5" title="Convertible note, interest rate">8</span>% per annum . The maturity of the Note is three years from the issue date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Common Stock shall hereafter be changed or reclassified pursuant to the following terms and conditions:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">(a) For the period beginning on the Issue Date and ending 365 days subsequent to the Issue Date (“Year 1”) a 50% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">(b) For the period beginning one day subsequent to the final day of Year One and ending 365 days subsequent to Year One (“Year 2”) a 35% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">(c) For the period beginning one day subsequent to the final day of Year 2 and ending 365 days subsequent to Year 2 (“Year 3”) a 25% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">(d) “Trading Price” means the closing bid price on the Over-the-Counter Bulletin Board, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Lender (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Company and the Lender. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded. “Trading Volume” shall mean the number of shares traded on such Trading Day as reported by such Reporting Service. The Conversion Price shall be equitably adjusted for stock splits, stock dividends, rights offerings, combinations, recapitalization, reclassifications, extraordinary distributions and similar events by the Company relating to the Lender’s securities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than five (5) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Upon closing of a Transaction Event the Lender shall receive 0 .10% ( one tenth of one percent)of the consideration actually received by the Company from an unaffiliated third party as a result of the closing of a Transaction Event.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">“Transaction Event” shall mean either of:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">(a) The sale by the Company of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">(b) The granting of a license by the Company to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The issuance of the Note amounted in a beneficial conversion feature of $<span id="xdx_901_eus-gaap--DebtInstrumentConvertibleBeneficialConversionFeature_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--April62016Member_pp0p0" title="Beneficial conversion feature">9,900</span> which is amortized under the Interest Method over the life of the Note. As of September 30,2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_903_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--April62016Member_pp0p0" title="Unamortized discount">0</span></span>. December 31,2021 $<span id="xdx_90E_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--April62016Member_pp0p0" title="Outstanding balance">50,000</span> of the principal amount of the Note remains outstanding.</p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On October 31, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_90D_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--October312016Member_pp0p0" title="Convertible note issued and outstanding">50,000</span> for consideration consisting of $<span id="xdx_909_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--October312016Member_pp0p0" title="Cash issued for convertible note">50,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--October312016Member_zf108ECIOk59" title="Convertible note, interest rate">10</span>% per annum . The maturity of the Note is two years from the issue date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at a conversion price of $0.0125 per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The issuance of the Note amounted in a beneficial conversion feature of $<span id="xdx_90B_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--October312016Member_pp0p0" title="Outstanding balance">50,000</span> which is amortized under the Interest Method over the life of the Note. As of September 30,2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_906_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--October312016Member_pp0p0" title="Unamortized discount">0</span>. As of December 31,2021 $<span id="xdx_90C_eus-gaap--DebtInstrumentConvertibleBeneficialConversionFeature_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--October312016Member_pp0p0" title="Beneficial conversion feature">50,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On October 31, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_908_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--October3120162Member_pp0p0" title="Convertible note issued and outstanding">50,000</span> for consideration consisting of $<span id="xdx_90A_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--October3120162Member_pp0p0" title="Cash issued for convertible note">50,000 </span>cash. The Note pays simple interest in the amount of <span id="xdx_907_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--October3120162Member_znONl1VpBhw7" title="Convertible note, interest rate">10</span>% per annum . The maturity of the Note is two years from the issue date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at a conversion price of $0.0125 per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The issuance of the Note amounted in a beneficial conversion feature of $<span id="xdx_906_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--October3120162Member_pp0p0" title="Outstanding balance">50,000</span> which is amortized under the Interest Method over the life of the Note. As of September 30,2021 the unamortized discount on the convertible note outstanding is $ <span id="xdx_904_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--October3120162Member_pp0p0" title="Unamortized discount">0</span> As of December 31,2021 $<span id="xdx_90D_eus-gaap--DebtInstrumentConvertibleBeneficialConversionFeature_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--October3120162Member_pp0p0" title="Beneficial conversion feature">50,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On October 31, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_90B_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--October3120163Member_pp0p0" title="Convertible note issued and outstanding">50,000</span> for consideration consisting of $<span id="xdx_909_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--October3120163Member_pp0p0" title="Cash issued for convertible note">50,000</span> cash. The Note pays simple interest in the amount of<span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--October3120163Member_z9AcKSG34nfg" title="Convertible note, interest rate"> 10</span>% per annum . The maturity of the Note is two years from the issue date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at a conversion price of $0.0125 per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif"><br/> The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The issuance of the Note amounted in a beneficial conversion feature of $<span id="xdx_907_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--October3120163Member_pp0p0" title="Outstanding balance">50,000</span> which is amortized under the Interest Method over the life of the Note. As of September 30,2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_907_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--October3120163Member_pp0p0" title="Unamortized discount">0</span>. As of December 31 ,2021 $<span id="xdx_90C_eus-gaap--DebtInstrumentConvertibleBeneficialConversionFeature_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--October3120163Member_pp0p0" title="Beneficial conversion feature">50,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">March 13, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_90E_eus-gaap--ConvertibleNotesPayableCurrent_iI_pp0p0_c20211231__us-gaap--DebtInstrumentAxis__custom--March132017Member_zGbYR9c52eMf" title="Convertible note issued and outstanding">50,000</span> for consideration consisting of $<span id="xdx_90A_ecustom--CashIssuedForConvertibleNote_iI_pp0p0_c20211231__us-gaap--DebtInstrumentAxis__custom--March132017Member_zWgndD8fadZa" title="Cash issued for convertible note">50,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--March132017Member_zqm6mFZwBVu5" title="Convertible note, interest rate">10</span>% per annum . The maturity of the Note is February 24, 2020. All or part of the principal is convertible at any time at the demand of the Lender into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.0125 per common share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.05 per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The warrants shall be exercisable:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31,2021 $<span id="xdx_90D_eus-gaap--DebtInstrumentConvertibleIfConvertedValueInExcessOfPrincipal_pp0p0_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--March132017Member_zpCHkkU5eC0i" title="Converted value that exceeds the principal amount">50,000</span> of the principal amount of the Note remains outstanding.<br/></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_905_eus-gaap--DerivativeLiabilitiesCurrent_iI_pp0p0_c20211231__us-gaap--DebtInstrumentAxis__custom--March132017Member_zn2U1bZkZKm1" title="Derivative Liability">204,082 </span>was recognized by the Company as of December 31, 2021. The issuance of the Note amounted in a discount of $<span id="xdx_908_eus-gaap--NotesPayableCurrent_iI_pp0p0_c20211231__us-gaap--DebtInstrumentAxis__custom--March132017Member_z633w6bxpYq9" title="Outstanding balance">50,000</span> which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_904_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pp0p0_c20211231__us-gaap--DebtInstrumentAxis__custom--March132017Member_zQa9tQPG8jE6" title="Unamortized discount">0</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On March 31, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_90A_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--March312017Member_pp0p0" title="Convertible note issued and outstanding">50,000</span> for consideration consisting of $<span id="xdx_905_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--March312017Member_pp0p0" title="Cash issued for convertible note">50,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--March312017Member_z9S41798HA5c" title="Convertible note, interest rate">10</span>% per annum . The maturity of the Note is March 31, 2020. All or part of the principal is convertible at any time at the demand of the Lender into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.0125 per common share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.05 per share.<br/></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The warrants shall be exercisable:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">In the event part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note. As of December 31 ,2021 $<span id="xdx_90D_eus-gaap--DebtInstrumentConvertibleIfConvertedValueInExcessOfPrincipal_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--March312017Member_pp0p0" title="Converted value that exceeds the principal amount">50,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_906_eus-gaap--DerivativeLiabilitiesCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--March312017Member_pp0p0" title="Derivative Liability">204,082</span> was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $<span id="xdx_90A_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--March312017Member_pp0p0" title="Outstanding balance">50,000</span> which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_90B_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--March312017Member_pp0p0" title="Unamortized discount">0</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On April 19, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_90E_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--April192017Member_pp0p0" title="Convertible note issued and outstanding">50,000</span> for consideration consisting of $<span id="xdx_90A_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--April192017Member_pp0p0" title="Cash issued for convertible note">50,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--April192017Member_zk5Y4fBxvfXj" title="Convertible note, interest rate">10</span>% per annum . The maturity of the Note is April 19, 2020. All or part of the principal is convertible at any time at the demand of the Lender into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.0125 per common share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.05 per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The warrants shall be exercisable:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31,2021 $<span id="xdx_909_eus-gaap--DebtInstrumentConvertibleIfConvertedValueInExcessOfPrincipal_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--April192017Member_pp0p0" title="Converted value that exceeds the principal amount">50,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_900_eus-gaap--DerivativeLiabilitiesCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--April192017Member_pp0p0" title="Derivative Liability">204,082</span> was recognized by the Company as of September 30,2021. The issuance of the Note amounted in a discount of $<span id="xdx_908_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--April192017Member_pp0p0" title="Outstanding balance">50,000</span> which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_904_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--April192017Member_pp0p0" title="Unamortized discount">0</span>.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On May 5, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_904_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--May52017Member_pp0p0" title="Convertible note issued and outstanding">200,000</span> for consideration consisting of $<span id="xdx_900_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--May52017Member_pp0p0" title="Cash issued for convertible note">200,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--May52017Member_zmTnpkGqLoYc" title="Convertible note, interest rate">10</span>% per annum . The maturity of the Note is May 5, 2020. The Note is convertible into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(iii) That date which is twenty four (24) months subsequent to the date of execution of this Note.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.05 per share.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The warrants shall be exercisable:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31,2021 $<span id="xdx_90E_eus-gaap--DebtInstrumentConvertibleIfConvertedValueInExcessOfPrincipal_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--May52017Member_pp0p0" title="Converted value that exceeds the principal amount">200,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_905_eus-gaap--DerivativeLiabilitiesCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--May52017Member_pp0p0" title="Derivative Liability">816,327</span> was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $<span id="xdx_90D_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--May52017Member_pp0p0" title="Outstanding balance">200,000</span> which is amortized under the Interest Method over the life of the Note. As of December 31 ,2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_90A_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--May52017Member_pp0p0" title="Unamortized discount">0</span>.<br/> <br/>On June 26, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_908_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--June262017Member_pp0p0" title="Convertible note issued and outstanding">150,000</span> for consideration consisting of $<span id="xdx_908_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--June262017Member_pp0p0" title="Cash issued for convertible note">150,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--June262017Member_zAhQJJNr8Nh8" title="Convertible note, interest rate">10</span>% per annum . The maturity of the Note is June 16, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(iv) One day subsequent to a “Transaction Event”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Transaction Event” shall mean either of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The warrants shall be exercisable:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31,2021 $<span id="xdx_90B_eus-gaap--DebtInstrumentConvertibleIfConvertedValueInExcessOfPrincipal_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--June262017Member_pp0p0" title="Converted value that exceeds the principal amount">150,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_90E_eus-gaap--DerivativeLiabilitiesCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--June262017Member_pp0p0" title="Derivative Liability">612,245</span> was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $<span id="xdx_90F_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--June262017Member_pp0p0" title="Outstanding balance">150,000</span> which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_905_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--June262017Member_pp0p0" title="Unamortized discount">0</span>.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><br/> On September 25, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_900_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Sept252017Member_pp0p0" title="Convertible note issued and outstanding">50,000</span> for consideration consisting of $<span id="xdx_906_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--Sept252017Member_pp0p0" title="Cash issued for convertible note">50,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--Sept252017Member_z3mhveWupjN4" title="Convertible note, interest rate">10</span>% per annum. The maturity of the Note is September 25, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.0125 per common share as of the date which is the earlier of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(iv) One day subsequent to a “Transaction Event”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Transaction Event” shall mean either of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party </span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The warrants shall be exercisable:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31, 2021 $<span id="xdx_903_eus-gaap--DebtInstrumentConvertibleIfConvertedValueInExcessOfPrincipal_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--Sept252017Member_pp0p0" title="Converted value that exceeds the principal amount">50,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_907_eus-gaap--DerivativeLiabilitiesCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Sept252017Member_pp0p0" title="Derivative Liability">204,082</span> was recognized by the Company as of December 31, 2021. The issuance of the Note amounted in a discount of $<span id="xdx_909_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Sept252017Member_pp0p0" title="Outstanding balance">50,000</span> which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_90B_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--Sept252017Member_pp0p0" title="Unamortized discount">0</span>.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On October 3, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_90D_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Oct0317Member_pp0p0" title="Convertible note issued and outstanding">50,000</span> for consideration consisting of $<span id="xdx_901_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--Oct0317Member_pp0p0" title="Cash issued for convertible note">50,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--Oct0317Member_zo5wmNkNzoi8" title="Convertible note, interest rate">10</span>% per annum. The maturity of the Note is October 3, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(iv) One day subsequent to a “Transaction Event”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Transaction Event” shall mean either of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The warrants shall be exercisable:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31,2021, $<span id="xdx_909_eus-gaap--DebtInstrumentConvertibleIfConvertedValueInExcessOfPrincipal_pp0p0_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--Oct0317Member_zxMUNSiJ0v1f" title="Converted value that exceeds the principal amount">50,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_90B_eus-gaap--DerivativeLiabilitiesCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Oct0317Member_pp0p0" title="Derivative Liability">204,082</span> was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $<span id="xdx_90C_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Oct0317Member_pp0p0" title="Outstanding balance">50,000</span> which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_90A_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--Oct0317Member_pp0p0" title="Unamortized discount">0</span>.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On October 16, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_909_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Oct1617Member_pp0p0" title="Convertible note issued and outstanding">100,000</span> for consideration consisting of $<span id="xdx_90D_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--Oct1617Member_pp0p0" title="Cash issued for convertible note">100,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--Oct1617Member_zvQNBXIohshd" title="Convertible note, interest rate">10</span>% per annum. The maturity of the Note is October 9, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction. </span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(iv) One day subsequent to a “Transaction Event”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><br/> Transaction Event” shall mean either of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The warrants shall be exercisable:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31,2021 $<span id="xdx_905_eus-gaap--DebtInstrumentConvertibleIfConvertedValueInExcessOfPrincipal_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--Oct1617Member_pp0p0" title="Converted value that exceeds the principal amount">100,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_90F_eus-gaap--DerivativeLiabilitiesCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Oct1617Member_pp0p0" title="Derivative Liability">408,163</span> was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $<span id="xdx_90F_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Oct1617Member_pp0p0" title="Outstanding balance">100,000</span> which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_906_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--Oct1617Member_pp0p0" title="Unamortized discount">0</span>.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><br/> On November 1, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_90C_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Nov0117Member_pp0p0" title="Convertible note issued and outstanding">25,000</span> for consideration consisting of $<span id="xdx_905_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--Nov0117Member_pp0p0" title="Cash issued for convertible note">25,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--Nov0117Member_zeAf4PP0Yb41" title="Convertible note, interest rate">10</span>% per annum. The maturity of the Note is November 1, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(iv) One day subsequent to a “Transaction Event”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Transaction Event” shall mean either of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(v) That date which is twenty four (24) months subsequent to the date of execution of this Note. </span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The warrants shall be exercisable:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31,2021 $<span id="xdx_90F_eus-gaap--DebtInstrumentConvertibleIfConvertedValueInExcessOfPrincipal_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--Nov0117Member_pp0p0" title="Converted value that exceeds the principal amount">25,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_906_eus-gaap--DerivativeLiabilitiesCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Nov0117Member_pp0p0" title="Derivative Liability">102,041</span> was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $<span id="xdx_908_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Nov0117Member_pp0p0" title="Outstanding balance">25,000</span> which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_90E_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--Nov0117Member_pp0p0" title="Unamortized discount">0</span>.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On November 1, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_909_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Nov0120172Member_pp0p0" title="Convertible note issued and outstanding">25,000</span> for consideration consisting of $<span id="xdx_907_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--Nov0120172Member_pp0p0" title="Cash issued for convertible note">25,000</span> cash. The Note pays simple interest in the amount of<span id="xdx_904_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--Nov0120172Member_zzEmLfhXnbU8" title="Convertible note, interest rate"> 10</span>% per annum. The maturity of the Note is November 1, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(iv) One day subsequent to a “Transaction Event”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Transaction Event” shall mean either of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The warrants shall be exercisable:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31,2021 $<span id="xdx_90A_eus-gaap--DebtInstrumentConvertibleIfConvertedValueInExcessOfPrincipal_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--Nov0120172Member_pp0p0" title="Converted value that exceeds the principal amount">25,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_904_eus-gaap--DerivativeLiabilitiesCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Nov0120172Member_pp0p0" title="Derivative Liability">102,041</span> was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $<span id="xdx_90E_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Nov0120172Member_pp0p0" title="Outstanding balance">25,000</span> which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_90A_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--Nov0120172Member_pp0p0" title="Unamortized discount">0</span>.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On December 20, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_908_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Dec2017Member_pp0p0" title="Convertible note issued and outstanding">100,000</span> for consideration consisting of $<span id="xdx_90C_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--Dec2017Member_pp0p0" title="Cash issued for convertible note">100,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_903_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--Dec2017Member_zZuEpsZWIGyd" title="Convertible note, interest rate">10</span>% per annum. The maturity of the Note is December 20, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"/> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(iv) One day subsequent to a “Transaction Event”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Transaction Event” shall mean either of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The warrants shall be exercisable:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31,2021 $<span id="xdx_90B_eus-gaap--DebtInstrumentConvertibleIfConvertedValueInExcessOfPrincipal_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--Dec2017Member_pp0p0" title="Converted value that exceeds the principal amount">100,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_902_eus-gaap--DerivativeLiabilitiesCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Dec2017Member_pp0p0" title="Derivative Liability">408,163</span> was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $<span id="xdx_900_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Dec2017Member_pp0p0" title="Outstanding balance">100,000</span> which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_907_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--Dec2017Member_pp0p0" title="Unamortized discount">0</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On February 28, 2018 (“Issue date”) the Company issued a two Convertible Notes (“Notes”) in the aggregate face amount of $<span id="xdx_90D_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Feb2818Member_pp0p0" title="Convertible note issued and outstanding">100,000</span> for consideration consisting of $<span id="xdx_903_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--Feb2818Member_pp0p0" title="Cash issued for convertible note">100,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--Feb2818Member_zL9tZXAdAXCe" title="Convertible note, interest rate">10</span>% per annum. The maturity of the Notes is February 28, 2021. The Notes may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of these Notes, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(iv) One day subsequent to a “Transaction Event”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Transaction Event” shall mean either of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(v) That date which is twenty four (24) months subsequent to the date of execution of this Note. </span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Notes in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that that the Company exercises its right to prepay the notes, or if the Lender chooses not to convert the remaining amount of the notes into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Notes into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The warrants shall be exercisable:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that the Company exercises its right to Prepay the Notes on or prior to the close of business on the three (3) month anniversary of the date that the Notes shall have been prepaid by the Company (“Prepayment Date”).</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Notes, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Notes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"/> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31,2021 $<span id="xdx_901_eus-gaap--DebtInstrumentConvertibleIfConvertedValueInExcessOfPrincipal_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--Feb2818Member_pp0p0" title="Converted value that exceeds the principal amount">100,000</span> of the principal amount of the Notes remains outstanding.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company analyzed the conversion feature of the Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_90B_eus-gaap--DerivativeLiabilitiesCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Feb2818Member_pp0p0" title="Derivative Liability">408,163</span> was recognized by the Company as of December 31,2021. The issuance of the Notes amounted in a discount of $<span id="xdx_90A_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--Feb2818Member_pp0p0" title="Outstanding balance">100,000</span> which is amortized under the Interest Method over the life of the Notes. As of December 31,2021 the unamortized discount on the convertible notes outstanding is $<span id="xdx_908_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--Feb2818Member_pp0p0" title="Unamortized discount">0</span>.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On July 11, 2018 the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_90C_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--July112018Member_pp0p0" title="Convertible note issued and outstanding">11,500</span> to an entity controlled by the Company’s then Chief Financial Officer for consideration consisting of $<span id="xdx_902_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--July112018Member_pp0p0" title="Cash issued for convertible note">11,500</span> cash. The Note pays simple interest in the amount of <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--July112018Member_zH7Jjy1MNSt1" title="Convertible note, interest rate">10</span>% per annum. The maturity of the Note is May 4, 2021. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.01 per common share as of the date which is the earlier of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(iv) One day subsequent to a “Transaction Event”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Transaction Event” shall mean either of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> (b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.01 per share.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The warrants shall be exercisable:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31,2021 $<span id="xdx_90F_eus-gaap--DebtInstrumentConvertibleIfConvertedValueInExcessOfPrincipal_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--July112018Member_pp0p0" title="Converted value that exceeds the principal amount">11,500</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company analyzed the conversion feature of the Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_90A_eus-gaap--DerivativeLiabilitiesCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--July112018Member_pp0p0" title="Derivative Liability">46,938</span> was recognized by the Company as of December 31,2021. The issuance of the Notes amounted in a discount of $<span id="xdx_90D_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--July112018Member_pp0p0" title="Outstanding balance">11,500</span> which is amortized under the Interest Method over the life of the Notes. As of December 31,2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_90F_eus-gaap--DebtInstrumentUnamortizedDiscount_c20211231__us-gaap--DebtInstrumentAxis__custom--July112018Member_pp0p0" title="Unamortized discount">0</span>.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On September 30, 2018 Regen Biopharma, Inc. (“Regen”) issued a convertible promissory note in the principal amount of $<span id="xdx_90E_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--September302018Member_pp0p0" title="Convertible note issued and outstanding">350,000</span> (“Note”) to Zander Therapeutics, Inc. (“Zander”). Consideration for the Note consisted of $<span id="xdx_90C_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--September302018Member_pp0p0" title="Cash issued for convertible note">350,000</span>. A onetime interest charge of <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--September302018Member_z03kR6JESZJ9" title="Convertible note, interest rate">10</span>% of the principal amount shall be applied to the principal amount of the Note. The Note is due and payable 24 months from the effective date.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Zander has the right, at any time after the September 30, 2018, at its election, to convert all or part of the outstanding and unpaid Principal Sum and accrued interest (and any other fees) into shares of fully paid and non-assessable shares of Series A Preferred stock of Regen as per this conversion formula: Number of shares receivable upon conversion equals the dollar conversion amount divided by the Conversion Price. The Conversion Price is the greater of $0.0001 or 60% of the lowest trade price in the 25 trading days previous to the conversion. Zander, at any time prior to selling all of the shares from a conversion, may, for any reason, rescind any portion, in whole or in part, of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the Principal Sum with the rescinded conversion shares returned to Regen.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31, 2021, <span id="xdx_90F_eus-gaap--DebtInstrumentConvertibleIfConvertedValueInExcessOfPrincipal_pp0p0_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--September302018Member_zNuOPqXwH4Gl" title="Converted value that exceeds the principal amount">10,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"/> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The issuance of the Note amounted in a beneficial conversion feature of $<span id="xdx_900_eus-gaap--DebtInstrumentConvertibleBeneficialConversionFeature_pp0p0_c20211001__20211231__us-gaap--DebtInstrumentAxis__custom--September302018Member_zMJZybtSFCvc" title="Beneficial conversion feature">350,000</span> which is amortized under the Interest Method over the life of the Note. As of December 31 2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_901_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pp0p0_c20211231__us-gaap--DebtInstrumentAxis__custom--September302018Member_zPrOlnIVHrpl" title="Unamortized discount">0</span>.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Zander and Regen are under common control. Zander Therapeutics, Inc. is the sole licensee of Regen's NR2F6 intellectual property for veterinary applications. </span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On July 19, 2019 the Company issued a convertible promissory note in the face amount of $<span id="xdx_904_eus-gaap--ConvertibleNotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--July192019Member_pp0p0" title="Convertible note issued and outstanding">100,000</span> (“Note”) for consideration consisting of:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">$<span id="xdx_909_ecustom--CashIssuedForConvertibleNote_c20211231__us-gaap--DebtInstrumentAxis__custom--July192019Member_pp0p0" title="Cash issued for convertible note">95,000</span> cash</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">the payment of $5,000 of legal fees</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is July 19, 2020. The Note may be converted into the common stock of Regen at a price per share ( “Conversion Price”) equivalent to 60% of the lowest Trading price of the common stock of the Company as reported on the National Quotations Bureau OTC Markets exchange upon which the Company's shares are traded or any exchange upon which the Common Stock of the Company may be traded in the future , for the twenty prior trading days including the day upon which a Notice of Conversion is received by the Company or its transfer agent. . In no event shall the Holder be allowed to effect a conversion if such conversion, along with all other shares of Company common stock beneficially owned by the Holder and its affiliates would exceed 9.9% of the outstanding shares of the Common Stock of the Company.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The proceeds from the issuance of the Note are to be allocated as follows:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">$30,592 will be utilized to retire the outstanding balance of a $75,000 note issued by the Company on August 15, 2018 to One44 capital, LLC and $22,877 will be allocated to the Company’s accountants and auditors to bring the Company current with regards to the Company’s quarterly reporting requirements under the Securities and Exchange Act of 1934.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Note may be prepaid with the following penalties:</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 45%; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Time Period</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 45%; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Payment Premium</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&lt;=60 days after note issuance</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">125% of the sum of principal  plus accrued interest</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&gt;60 days &lt;= 120 days after note issuance</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">135% of the sum of principal  plus accrued interest</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&gt;120 days &lt;=180 days  after note issuance</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">140% of the sum· of principal plus accrued· interest</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"/> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">This Note may not be prepaid after the 180th day.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31,2021 $<span id="xdx_905_eus-gaap--NotesPayableCurrent_iI_pp0p0_c20211231__us-gaap--DebtInstrumentAxis__custom--July192019Member_zcutA90Gf0O5">1,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_909_eus-gaap--DerivativeLiabilitiesCurrent_iI_pp0p0_c20211231__us-gaap--DebtInstrumentAxis__custom--July192019Member_zXPrWm0EmvXg" title="Derivative Liability">3,048</span> was recognized by the Company as of December 31,2021.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The issuance of the Note amounted in a discount of $100,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $<span id="xdx_90E_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pp0p0_c20211231__us-gaap--DebtInstrumentAxis__custom--July192019Member_z0r5dE3VDJA8">0</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"/> 100000 100000 0.08 42600 0 100000 50000 50000 0.08 9900 0 50000 50000 50000 0.10 50000 0 50000 50000 50000 0.10 50000 0 50000 50000 50000 0.10 50000 0 50000 50000 50000 0.10 50000 204082 50000 0 50000 50000 0.10 50000 204082 50000 0 50000 50000 0.10 50000 204082 50000 0 200000 200000 0.10 200000 816327 200000 0 150000 150000 0.10 150000 612245 150000 0 50000 50000 0.10 50000 204082 50000 0 50000 50000 0.10 50000 204082 50000 0 100000 100000 0.10 100000 408163 100000 0 25000 25000 0.10 25000 102041 25000 0 25000 25000 0.10 25000 102041 25000 0 100000 100000 0.10 100000 408163 100000 0 100000 100000 0.10 100000 408163 100000 0 11500 11500 0.10 11500 46938 11500 0 350000 350000 0.10 10000 350000 0 100000 95000 1000 3048 0 <p id="xdx_80A_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zha4QNAvDRDa" style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">NOTE 6. <span id="xdx_821_zCidjRivEaDh">RELATED PARTY TRANSACTIONS</span></span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On June 23, 2015 the Company entered into an agreement (“Agreement”) with Zander Therapeutics, Inc. ( “Zander”) whereby The Company granted to Zander an exclusive worldwide right and license for the development and commercialization of certain intellectual property controlled by The Company (” License IP”) for non-human veterinary therapeutic use for a term of fifteen years. Zander is under common control with the Company.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Pursuant to the Agreement, Zander shall pay to The Company one-time, non-refundable, upfront payment of one hundred thousand US dollars ($100,000) as a license initiation fee which must be paid within 90 days of June 23, 2015 and an annual non-refundable payment of one hundred thousand US dollars ($100,000) on July 15th, 2016 and each subsequent anniversary of the effective date of the Agreement.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The abovementioned payments may be made, at Zander’s discretion, in cash or newly issued common stock of Zander.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Pursuant to the Agreement, Zander shall pay to The Company royalties equal to four percent (4%) of the Net Sales , as such term is defined in the Agreement, of any Licensed Products, as such term is defined in the Agreement, in a Quarter.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Pursuant to the Agreement, Zander will pay The Company ten percent (10%) of all consideration (in the case of in-kind consideration, at fair market value as monetary consideration) received by Zander from sublicensees ( excluding royalties from sublicensees based on Net Sales of any Licensed Products for which The Company receives payment pursuant to the terms and conditions of the Agreement).</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Zander is obligated pay to The Company minimum annual royalties of ten thousand US dollars ($10,000) payable per year on each anniversary of the Effective Date of this Agreement, commencing on the second anniversary of June 23, 2015. This minimum annual royalty is only payable to the extent that royalty payments made during the preceding 12-month period do not exceed ten thousand US dollars ($10,000).</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Agreement may be terminated by The Company:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">If Zander has not sold any Licensed Product by ten years of the effective date of the Agreement or Zander has not sold any Licensed Product for any twelve (12) month period after Zander’s first commercial sale of a Licensed Product.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Agreement may be terminated by Zander with regard to any of the License IP if by five years from the date of execution of the Agreement a patent has not been granted by the United States patent and Trademark Office to The Company with regard to that License IP.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Agreement may be terminated by Zander with regard to any of the License IP if a patent that has been granted by the United States patent and Trademark Office to The Company with regard to that License IP is terminated.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Agreement may be terminated by either party in the event of a material breach by the other party.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"/> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On December 17, 2018 Regen Biopharma, Inc.(“Licensor”) , KCL Therapeutics, Inc. (“Assignee”) and Zander Therapeutics, Inc. (“Licensee”) entered into a LICENSE ASSIGNMENT AND CONSENT AGREEMENT whereby, with regards to certain intellectual property which was assigned by Regen Biopharma, Inc.(“Assigned Properties”) to its wholly owned subsidiary KCL Therapeutics, Inc., Licensor hereby transfers and assigns to Assignee all rights, duties, and obligations of Licensor under the Agreement with respect to the Assigned Properties , and Assignee agrees to assume such duties and obligations thereunder and be bound to the terms of the Agreement with respect thereto.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On December 16, 2019 Zander Therapeutics, Inc. (“Zander”), KCL Therapeutics, Inc. (“KCL”) and Regen Biopharma, Inc. (“Regen”) entered into an agreement (“Agreement”) whereby:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">1) Zander shall return for cancellation 194,285,714 shares of the Series A Preferred stock of Regen (“Conversion Shares”) acquired by Zander through conversion of $340,000 of principal indebtedness of a $350,000 convertible note payable issued by Regen to Zander. Subsequent to this event the principal amount due to Zander by Regen pursuant to the Convertible Note shall be $350,000 which shall be applied pursuant to the Agreement.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">2) A $35,000 one time charge due to Zander by Regen (“One Time Charge”) shall be applied pursuant to the Agreement.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">3) $75,900 of principal indebtedness due to Regen by Zander and $4,328 of accrued but unpaid interest due by Regen to Zander shall be applied pursuant to the Agreement.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">No actions were taken by any of the parties to enforce the terms of the Agreement.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On April 15, 2021 the Agreement was amended as follows so that the material terms and conditions shall be:</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">a) Zander shall not return the Conversion shares for cancellation and the principal indebtedness of the aforementioned convertible note shall not reflect such return</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">b) As of December 16, 2019 all principal and accrued interest payable by Regen to Zander on that date resulting from Promissory Notes issued by Regen to Zander shall be credited towards amounts due by Zander pursuant to that agreement, as amended, entered into by and between Zander and Regen on June 23, 2015 (“License Agreement”) whereby Regen granted to Zander an exclusive worldwide right and license for the development and commercialization of certain intellectual property controlled by Regen for non-human veterinary therapeutic use for a term of fifteen years and that License Assignment And Consent agreement entered into by and between Regen, KCL and Zander on December 17, 2018 whereby Regen transferred and assigned to KCL all rights, duties, and obligations of Regen under the License Agreement and KCL agreed to assume such duties and obligations thereunder and be bound to the terms of the License Agreement with respect thereto.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Zander and Regen are under common control.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On September 30, 2018 Regen Biopharma, Inc. (“Regen”) issued a convertible promissory note in the principal amount of $<span id="xdx_903_eus-gaap--ConvertibleNotesPayableCurrent_iI_pp0p0_c20211231__us-gaap--DebtInstrumentAxis__custom--September302018Member_zsmxKhb8F9h7" title="Convertible Notes Payable, Current">350,000</span> (“Note”) to Zander Therapeutics, Inc. (“Zander”). Consideration for the Note consisted of $350,000. A onetime interest charge of 10% of the principal amount shall be applied to the principal amount of the Note. The Note is due and payable 24 months from the effective date.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Zander has the right, at any time after the September 30, 2018, at its election, to convert all or part of the outstanding and unpaid Principal Sum and accrued interest (and any other fees) into shares of fully paid and non-assessable shares of Series A Preferred stock of Regen as per this conversion formula: Number of shares receivable upon conversion equals the dollar conversion amount divided by the Conversion Price. The Conversion Price is the greater of $0.0001 or 60% of the lowest trade price in the 25 trading days previous to the conversion. Zander, at any time prior to selling all of the shares from a conversion, may, for any reason, rescind any portion, in whole or in part, of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the Principal Sum with the rescinded conversion shares returned to Regen.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of September 30, 2021, $<span id="xdx_90C_eus-gaap--NotesPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--September302018Member_pp0p0" title="Notes Payable, Current">10,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"/> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">During the quarter ended June 30, 2021 Zander Therapeutics, Inc. issued a promissory note in the amount of $5,396 to the Company as consideration for expenses of Zander Therapeutics Inc., paid by the Company. The Note is payable on demand of the Holder and bears simple interest at 10% per annum.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On October 8,2021 the Company entered into an agreement with Dr. Brian Koos, MD PhD whereby Dr. Brian Koos would provide services to the Company consisting of :</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">a)       Reviewing existing publications on research being conducted on Checkpoint NR2F6.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">b)       Identifying the most promising applications for the Company’s technology</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">c)       Drafting a “white paper” on results for 1(b)</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">d)       Making introductions to known experts in appropriate fields identified in 1(b).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Dr. Brian Koos is to be paid compensated $117,000 as total consideration for performing the abovementioned tasks. During the quarter ended December 31, 2021 Dr. Brian Koos was paid the amount of $80,275. Dr. Brian Koos is the brother of David Koos the Chairman and Chief Executive Officer of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31, 2021 the Company is indebted to David R. Koos the Company’s sole officer and director in the amount of $<span id="xdx_90A_eus-gaap--NotesPayableRelatedPartiesClassifiedCurrent_iI_pp0p0_c20211231__us-gaap--DebtInstrumentAxis__custom--DavidKoosMember_zqrQwqlUu8ie" title="Notes Payable, related party">227</span>. $<span id="xdx_904_eus-gaap--DebtInstrumentCarryingAmount_iI_pp0p0_c20211231__us-gaap--DebtInstrumentAxis__custom--DavidKoosMember_z7bH8PiWSCvc" title="Notes payable">227</span> lent to the Company by Koos is due and payable at the demand of the holder and bear simple interest at a rate of 15% per annum.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">During the quarter ended December 31, 2021 the Company paid $5,000 of rental expenses to the landlord of BST Partners as consideration to BST Partners for use of office space. BST Partners is controlled by David R. Koos the Chairman and Chief Executive Officer of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On January 13, 2022 Regen Biopharma, Inc. entered into a sublease agreement with BST Partners (“BST”) whereby Regen Biopharma, Inc. would sublet office space located at 4700 Spring Street, Suite 304, La Mesa, California 91942 from BST on a month to month basis for $5,000 per month beginning January 14, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">BST Partners is controlled by David Koos who serves as the sole officer and director of Regen Biopharma, Inc.</span></p> 350000 10000 227 227 <p id="xdx_800_eus-gaap--AccountsAndNontradeReceivableTextBlock_zTqzbHBjmzR3" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">NOTE 7. <span id="xdx_82F_zqMckRyXj6u6">ACCOUNTS RECEIVABLE, RELATED PARTY</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Accounts Receivable due from Related Party as of December 31, 2021 consists solely of amounts earned by the Company not yet paid resulting from the Company’s license agreement with KCL Therapeutics (See Note 6).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"/> <p id="xdx_80E_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zdZXv6oivDG6" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">NOTE 8. <span id="xdx_82F_z074lPx8CXV7">STOCKHOLDERS’ EQUITY</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The stockholders’ equity section of the Company contains the following classes of capital stock as of December 31 2021:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Common stock, $ 0<span id="xdx_904_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20211231_zaxKVSKsqQ3b" title="Common Stock, Par or Stated Value Per Share">.0001</span> par value; <span id="xdx_90F_eus-gaap--CommonStockSharesAuthorized_iI_c20211231_z3V1PPDtqsk4" title="Common stock, authorized">4,800,000,000</span> shares authorized: <span id="xdx_907_eus-gaap--CommonStockSharesIssued_iI_c20211231_zZ3dQJMNwtT2" title="Common stock issued"><span id="xdx_907_eus-gaap--CommonStockSharesOutstanding_iI_c20211231_zQuppEyL1La4" title="Common stock outstanding">4,564,002,832</span></span>  shares issued and outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Common Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Common Stock owned by such holder times one (1).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of the Common Stock shall receive, out of assets legally available for distribution to the Company’s stockholders, a ratable share in the assets of the Corporation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Preferred Stock, $<span id="xdx_90D_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20211231_zSUnVjzLzVna" title="Preferred stock, par value">0.0001</span> par value, <span id="xdx_90A_eus-gaap--PreferredStockSharesAuthorized_iI_c20211231_zDPujwnOcyQ3" title="Preferred stock, shares authorized">800,000,000</span> shares authorized of which <span id="xdx_907_eus-gaap--PreferredStockSharesAuthorized_iI_c20210930__us-gaap--StatementClassOfStockAxis__custom--SeriesAAPreferredStockMember_zE8Z9hpKKqp5" title="Preferred stock, shares authorized">600,000</span> is designated as Series AA Preferred Stock: <span id="xdx_907_eus-gaap--PreferredStockSharesIssued_iI_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesAAPreferredStockMember_zt5FLgdZN7X2" title="Preferred stock, shares issued and outstanding"><span id="xdx_90C_eus-gaap--PreferredStockSharesOutstanding_iI_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesAAPreferredStockMember_z2x3K4WvqXRf" title="Preferred stock, shares outstanding">50,000</span></span> shares issued and outstanding as of December 31,2021, <span id="xdx_903_eus-gaap--PreferredStockSharesAuthorized_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zGgiZ9P72mx7" title="Preferred stock, shares authorized">300,000,000</span> is designated Series A Preferred Stock of which <span id="xdx_906_eus-gaap--PreferredStockSharesOutstanding_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zw63GxEZ3VDa" title="Preferred stock, shares outstanding">439,293,406</span> shares are outstanding as of December 31,2021, <span id="xdx_904_eus-gaap--PreferredStockSharesAuthorized_iI_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember_zfhMX1HpNMDf" title="Preferred stock, shares authorized">300,000,000</span> is designated Series M Preferred Stock of which <span id="xdx_90C_eus-gaap--PreferredStockSharesOutstanding_iI_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember_zVJH1UGWAH15" title="Preferred stock, shares outstanding">44,000,000</span> shares are outstanding as of December 31,2021, and <span id="xdx_908_eus-gaap--PreferredStockSharesAuthorized_iI_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesNCMember_zuCcrA00E7Ui" title="Preferred stock, shares authorized">20,000</span> is designated Series NC stock of which <span id="xdx_90C_eus-gaap--PreferredStockSharesOutstanding_iI_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesNCMember_zeZ606RFtRO8" title="Preferred stock, shares outstanding">10,000</span> shares are outstanding as of December 31, 2021. . </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The abovementioned shares authorized pursuant to the Company’s certificate of incorporation may be issued from time to time without prior approval of the shareholders. The Board of Directors of the Company shall have the full authority permitted by law to establish one or more series and the number of shares constituting each such series and to fix by resolution full or limited, multiple or fractional, or no voting rights, and such designations, preferences, qualifications, restrictions, options, conversion rights and other special or relative rights of any series of the Stock that may be desired.<br/></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Series AA Preferred Stock</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On September 15, 2014 the Company filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series AA Preferred Stock” (hereinafter referred to as “Series AA Preferred Stock”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Board of Directors of the Company have authorized <span id="xdx_90C_eus-gaap--PreferredStockSharesAuthorized_iI_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesAAPreferredStockMember_zCIOMAL4yya" title="Preferred stock, shares authorized">600,000</span> shares of the Series AA Preferred Stock, par value $<span id="xdx_905_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesAAPreferredStockMember_z368NvuDFd4c" title="Preferred stock, par value">0.0001</span>. With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Series AA Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series AA Preferred Stock owned by such holder times ten thousand (10,000). Except as otherwise required by law holders of Common Stock, other series of Preferred issued by the Corporation, and Series AA Preferred Stock shall vote as a single class on all matters submitted to the stockholders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Series A Preferred Stock</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On January 15, 2015 the Company filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series A Preferred Stock” (hereinafter referred to as “Series A Preferred Stock”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Board of Directors of the Company have authorized <span id="xdx_902_eus-gaap--PreferredStockSharesAuthorized_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_z591fKS1IBs7" title="Preferred stock, shares authorized">300,000,000</span> shares of the Series A Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Series A Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series A Preferred Stock owned by such holder times one . Except as otherwise required by law holders of Common Stock, other series of Preferred issued by the Corporation, and Series A Preferred Stock shall vote as a single class on all matters submitted to the stockholders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Holders of the Series A Preferred Stock will be entitled to receive, when, as and if declared by the board of directors of the Company (the “Board”) out of funds legally available therefore, non-cumulative cash dividends of $0.01 per quarter. In the event any dividends are declared or paid or any other distribution is made on or with respect to the Common Stock , the holders of Series A Preferred Stock as of the record date established by the Board for such dividend or distribution on the Common Stock shall be entitled to receive, as additional dividends (the “Additional Dividends”) an amount (whether in the form of cash, securities or other property) equal to the amount (and in the form) of the dividends or distribution that such holder would have received had each share of the Series A Preferred Stock been one share of the Common Stock, such Additional Dividends to be payable on the same payment date as the payment date for the Common Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">Upon any liquidation, dissolution, or winding up of the Company, whether voluntary or involuntary (collectively, a “Liquidation”), before any distribution or payment shall be made to any of the holders of Common Stock or any other series of preferred stock, the holders of Series A Preferred Stock shall be entitled to receive out of the assets of the Company, whether such assets are capital, surplus or earnings, an amount equal to $0.01 per share of Series A Preferred (the “Liquidation Amount”) plus all declared and unpaid dividends thereon, for each share of Series A Preferred held by them.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">If, upon any Liquidation, the assets of the Company shall be insufficient to pay the Liquidation Amount, together with declared and unpaid dividends thereon, in full to all holders of Series A Preferred, then the entire net assets of the Company shall be distributed among the holders of the Series A Preferred, ratably in proportion to the full amounts to which they would otherwise be respectively entitled and such distributions may be made in cash or in property taken at its fair value (as determined in good faith by the Board), or both, at the election of the Board. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On January 10, 2017 Regen Biopharma, Inc. (“Regen”) filed a CERTIFICATE OF DESIGNATION ("Certificate of Designations") with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as "Series M Preferred Stock" (hereinafter referred to as "Series M Preferred Stock").</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The Board of Directors of Regen have authorized <span id="xdx_900_eus-gaap--PreferredStockSharesAuthorized_iI_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember_z1jQYd0KdDYb" title="Preferred stock, shares authorized">300,000,000</span> shares of the Series M Preferred Stock, par value $<span id="xdx_909_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember_zE0vcCxRyPqg" title="Preferred stock, par value">0.0001</span>. With respect to each matter submitted to a vote of stockholders of Regen, each holder of Series M Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series M Preferred Stock owned by such holder times one. Except as otherwise required by law holders of Common Stock, other series of Preferred issued by Regen, and Series M Preferred Stock shall vote as a single class on all matters submitted to the stockholders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">The holders of Series M Preferred Stock shall be entitled receive dividends, when, as and if declared by the Board of Directors in accordance with Nevada Law, in its discretion, from funds legally available therefore</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On any voluntary or involuntary liquidation, dissolution or winding up of Regen, the holders of the Series M Preferred Stock shall receive, out of assets legally available for distribution to Regen’s stockholders, a ratable share in the assets of Regen.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On March 26, 2021 Regen Biopharma, Inc. ( “Regen”) filed a CERTIFICATE OF DESIGNATION ("Certificate of Designations") with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as Nonconvertible Series NC Preferred Stock (hereinafter referred to as "Series NC Preferred Stock").</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Board of Directors of Regen have authorized <span id="xdx_90D_eus-gaap--PreferredStockSharesAuthorized_iI_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesNCMember_zxNX3SqirwKg" title="Preferred stock, shares authorized">20,000</span> shares of the Series NC Preferred Stock, par value $<span id="xdx_909_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesNCMember_zcTIJjqfaCe1" title="Preferred stock, par value">0.0001</span>. With respect to each matter submitted to a vote of stockholders of Regen, each holder of Series NC Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series NC Preferred Stock owned by such holder times 500,000. Except as otherwise required by law holders of Common Stock, other series of Preferred issued by Regen, and Series NC Preferred Stock shall vote as a single class on all matters submitted to the stockholders.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The holders of Series NC Preferred Stock shall be entitled receive dividends, when, as and if declared by the Board of Directors in accordance with Nevada Law, in its discretion, from funds legally available therefore</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On any voluntary or involuntary liquidation, dissolution or winding up of Regen, the holders of the Series NC Preferred Stock shall receive, out of assets legally available for distribution to Regen’s stockholders, a ratable share in the assets of Regen. </span></p> 0.0001 4800000000 4564002832 4564002832 0.0001 800000000 600000 50000 50000 300000000 439293406 300000000 44000000 20000 10000 600000 0.0001 300000000 300000000 0.0001 20000 0.0001 <p id="xdx_802_ecustom--InvestmentSecuritiesRelatedPartyTextBlock_zJfwcLtnOYZ1" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">NOTE 9. <span id="xdx_826_z3CAxUD4rdVe">INVESTMENT SECURITIES, RELATED PARY</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On June 11, 2018 Regen Biopharma, Inc. was paid a property dividend consisting of <span id="xdx_908_ecustom--NumberOfSharesIssuedForPropertyDividend_c20190530__20190611__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pdd" title="Number of shares issued for property dividend">470,588</span> of the common shares of Zander Therapeutics, Inc.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On November 29, 2018 the Company accepted <span id="xdx_900_ecustom--NumberOfSharesIssuedInSatisfactionOfPrepaidRentAndAccruedInterest_c20191101__20191129__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pdd" title="Number of shares issued in satisfaction of prepaid rent and accrued interest">725,000</span> shares of the Series M Preferred stock of Zander Therapeutics, Inc. in satisfaction of prepaid rent and accrued interest owed to the Company collectively amounting to $<span id="xdx_90F_ecustom--SharesIssuedInSatisfactionOfPrepaidRentAndAccruedInterestValue_c20191101__20191129__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Shares issued in satisfaction of prepaid rent and accrued interest, value">13,124</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif">On December 31,2021 the Company revalued <span id="xdx_90C_ecustom--NumberOfSharesIssuedForPropertyDividend_c20211001__20211231__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pdd" title="Number of shares issued for property dividend">470,588</span> of the common shares of Zander Therapeutics, Inc. and <span id="xdx_909_ecustom--NumberOfSharesIssuedInSatisfactionOfPrepaidRentAndAccruedInterest_c20211001__20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pdd" title="Number of shares issued in satisfaction of prepaid rent and accrued interest">725,000</span> shares of the Series M Preferred stock of Zander Therapeutics, Inc. based on the following inputs:</span></p> <table cellpadding="0" cellspacing="0" id="xdx_881_eus-gaap--ScheduleOfOtherNonoperatingIncomeByComponentTextBlock_zGfNvUQDluMe" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INVESTMENT SECURITIES, RELATED PARY (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_8B9_zDN6UD9G5774" style="display: none">Schedule of dividend income</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 70%; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Fair Value of Intellectual Property</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90A_ecustom--FairValueOfIntellectualProperty_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Fair Value of Intellectual Property"><span id="xdx_900_ecustom--FairValueOfIntellectualProperty_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Fair Value of Intellectual Property">1,500</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Prepaid Expenses</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--PrepaidExpenseCurrent_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Prepaid Expenses"><span id="xdx_90C_eus-gaap--PrepaidExpenseCurrent_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Prepaid Expenses">74,298</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Due from Employee</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90E_eus-gaap--DueFromEmployees_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Due from Employee"><span id="xdx_901_eus-gaap--DueFromEmployees_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Due from Employee">1,071</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Note Receivable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--ReceivablesNetCurrent_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Note Receivable"><span id="xdx_90C_eus-gaap--ReceivablesNetCurrent_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Note Receivable">64,400</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Accrued Interest Receivable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_903_eus-gaap--AccruedInvestmentIncomeReceivable_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Accrued Interest Receivable"><span id="xdx_906_eus-gaap--AccruedInvestmentIncomeReceivable_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Accrued Interest Receivable">20,274</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Investment Securities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_904_eus-gaap--Investments_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Investment Securities"><span id="xdx_906_eus-gaap--Investments_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Investment Securities">593,357</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Convertible Note Receivable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90C_ecustom--ConvertibleNoteReceivable_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Convertible Note Receivable"><span id="xdx_901_ecustom--ConvertibleNoteReceivable_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Convertible Note Receivable">10,000</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Accounts Payable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_902_eus-gaap--AccountsPayableCurrent_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Accounts Payable"><span id="xdx_907_eus-gaap--AccountsPayableCurrent_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Accounts Payable">1,269,041</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Notes Payable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--NotesPayable_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Notes Payable"><span id="xdx_90F_eus-gaap--NotesPayable_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Notes Payable">500,000</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Accrued Expenses Related Parties</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90E_ecustom--AccruedExpensesRelated_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Accrued Expenses, Related Party"><span id="xdx_903_ecustom--AccruedExpensesRelated_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Accrued Expenses, Related Party">89,529</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Accrued Expenses</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90E_eus-gaap--AccruedLiabilitiesCurrent_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Accrued Expenses"><span id="xdx_901_eus-gaap--AccruedLiabilitiesCurrent_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Accrued Expenses">203,037</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Enterprise Value</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90F_ecustom--EnterpriseValue_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Enterprise Value"><span id="xdx_901_ecustom--EnterpriseValue_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Enterprise Value">2,826,507</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Less: Total Debt</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<span id="xdx_90F_eus-gaap--DebtCurrent_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Less: Total Debt"><span id="xdx_904_eus-gaap--DebtCurrent_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Less: Total Debt">2,061,607</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Portion of Enterprise Value Attributable to Shareholders</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_905_ecustom--PortionOfEnterpriseValueAttributableToShareholders_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Portion of Enterprise Value attributable to Shareholders"><span id="xdx_905_ecustom--PortionOfEnterpriseValueAttributableToShareholders_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Portion of Enterprise Value attributable to Shareholders">764,900</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Fair Value  Per Share</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90A_ecustom--FairValuePerShare_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pdd" title="Fair Value per share"><span id="xdx_904_ecustom--FairValuePerShare_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pdd" title="Fair Value per share">0.0167</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"/> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The abovementioned constitute the Company’s sole related party investment securities as of December 31, 2021 </span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>As of December 31, 2021:</b></span></p> <table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--ScheduleOfComprehensiveIncomeLossTableTextBlock_zJRFLjV22SIk" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INVESTMENT SECURITIES, RELATED PARY (Details 1)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span id="xdx_8B5_zWcUgmagXQ95" style="display: none">Schedule of comprehensive income</span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td colspan="11" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">470,588 Common Shares of Zander Therapeutics, Inc.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; width: 1%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; width: 11%"><span style="font: 10pt/107% Times New Roman, Times, Serif">Basis</span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: center; width: 1%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt/107% Times New Roman, Times, Serif">Fair Value</span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><p style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Total Unrealized Gains</span></p></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Net Unrealized Gain or (Loss) realized during the quarter   ended December 31,2021</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_98A_ecustom--InvestmentSecuritiesBasis_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Basis"><span style="font: 10pt Times New Roman, Times, Serif">5,741</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_984_eus-gaap--AvailableForSaleSecurities_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Fair Value"><span style="font: 10pt Times New Roman, Times, Serif">7,858</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_989_ecustom--AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeLossTax_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Total Unrealized Gain"><span style="font: 10pt Times New Roman, Times, Serif">2,118</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td> <td id="xdx_988_eus-gaap--EquitySecuritiesFvNiUnrealizedGainLoss_c20211001__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, net Unrealized Gain or (Loss) realized"><span style="font: 10pt Times New Roman, Times, Serif">0</span></td></tr> </table> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td colspan="11" style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">725,000 Series M Preferred of Zander Therapeutics, Inc.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; width: 1%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; width: 11%"><span style="font: 10pt/107% Times New Roman, Times, Serif">Basis</span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: center; width: 1%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt/107% Times New Roman, Times, Serif">Fair Value</span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt/107% Times New Roman, Times, Serif">Total Unrealized Loss</span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Net Unrealized Gain or (Loss) realized during the quarter  ended September 30,2021</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_98E_ecustom--InvestmentSecuritiesBasis_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Basis"><span style="font: 10pt Times New Roman, Times, Serif">13,124</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_98D_eus-gaap--AvailableForSaleSecurities_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Fair Value"><span style="font: 10pt Times New Roman, Times, Serif">12,109</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_983_ecustom--AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeLossTax_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Total Unrealized Gain"><span style="font: 10pt Times New Roman, Times, Serif">(1,104</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td> <td id="xdx_981_eus-gaap--EquitySecuritiesFvNiUnrealizedGainLoss_c20211001__20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, net Unrealized Gain or (Loss) realized"><span style="font: 10pt Times New Roman, Times, Serif">0</span></td></tr> </table> <p id="xdx_8A1_zcPwJooCO7Sb" style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> 470588 725000 13124 470588 725000 <table cellpadding="0" cellspacing="0" id="xdx_881_eus-gaap--ScheduleOfOtherNonoperatingIncomeByComponentTextBlock_zGfNvUQDluMe" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INVESTMENT SECURITIES, RELATED PARY (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_8B9_zDN6UD9G5774" style="display: none">Schedule of dividend income</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 70%; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Fair Value of Intellectual Property</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90A_ecustom--FairValueOfIntellectualProperty_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Fair Value of Intellectual Property"><span id="xdx_900_ecustom--FairValueOfIntellectualProperty_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Fair Value of Intellectual Property">1,500</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Prepaid Expenses</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--PrepaidExpenseCurrent_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Prepaid Expenses"><span id="xdx_90C_eus-gaap--PrepaidExpenseCurrent_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Prepaid Expenses">74,298</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Due from Employee</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90E_eus-gaap--DueFromEmployees_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Due from Employee"><span id="xdx_901_eus-gaap--DueFromEmployees_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Due from Employee">1,071</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Note Receivable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--ReceivablesNetCurrent_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Note Receivable"><span id="xdx_90C_eus-gaap--ReceivablesNetCurrent_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Note Receivable">64,400</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Accrued Interest Receivable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_903_eus-gaap--AccruedInvestmentIncomeReceivable_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Accrued Interest Receivable"><span id="xdx_906_eus-gaap--AccruedInvestmentIncomeReceivable_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Accrued Interest Receivable">20,274</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Investment Securities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_904_eus-gaap--Investments_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Investment Securities"><span id="xdx_906_eus-gaap--Investments_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Investment Securities">593,357</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Convertible Note Receivable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90C_ecustom--ConvertibleNoteReceivable_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Convertible Note Receivable"><span id="xdx_901_ecustom--ConvertibleNoteReceivable_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Convertible Note Receivable">10,000</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Accounts Payable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_902_eus-gaap--AccountsPayableCurrent_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Accounts Payable"><span id="xdx_907_eus-gaap--AccountsPayableCurrent_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Accounts Payable">1,269,041</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Notes Payable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--NotesPayable_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Notes Payable"><span id="xdx_90F_eus-gaap--NotesPayable_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Notes Payable">500,000</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Accrued Expenses Related Parties</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90E_ecustom--AccruedExpensesRelated_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Accrued Expenses, Related Party"><span id="xdx_903_ecustom--AccruedExpensesRelated_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Accrued Expenses, Related Party">89,529</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Accrued Expenses</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90E_eus-gaap--AccruedLiabilitiesCurrent_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Accrued Expenses"><span id="xdx_901_eus-gaap--AccruedLiabilitiesCurrent_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Accrued Expenses">203,037</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Enterprise Value</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90F_ecustom--EnterpriseValue_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Enterprise Value"><span id="xdx_901_ecustom--EnterpriseValue_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Enterprise Value">2,826,507</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Less: Total Debt</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<span id="xdx_90F_eus-gaap--DebtCurrent_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Less: Total Debt"><span id="xdx_904_eus-gaap--DebtCurrent_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Less: Total Debt">2,061,607</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Portion of Enterprise Value Attributable to Shareholders</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_905_ecustom--PortionOfEnterpriseValueAttributableToShareholders_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Portion of Enterprise Value attributable to Shareholders"><span id="xdx_905_ecustom--PortionOfEnterpriseValueAttributableToShareholders_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" title="Portion of Enterprise Value attributable to Shareholders">764,900</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Fair Value  Per Share</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90A_ecustom--FairValuePerShare_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pdd" title="Fair Value per share"><span id="xdx_904_ecustom--FairValuePerShare_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pdd" title="Fair Value per share">0.0167</span></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> </table> 1500 1500 74298 74298 1071 1071 64400 64400 20274 20274 593357 593357 10000 10000 1269041 1269041 500000 500000 89529 89529 203037 203037 2826507 2826507 2061607 2061607 764900 764900 0.0167 0.0167 <table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--ScheduleOfComprehensiveIncomeLossTableTextBlock_zJRFLjV22SIk" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INVESTMENT SECURITIES, RELATED PARY (Details 1)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span id="xdx_8B5_zWcUgmagXQ95" style="display: none">Schedule of comprehensive income</span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td colspan="11" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">470,588 Common Shares of Zander Therapeutics, Inc.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; width: 1%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; width: 11%"><span style="font: 10pt/107% Times New Roman, Times, Serif">Basis</span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: center; width: 1%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt/107% Times New Roman, Times, Serif">Fair Value</span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><p style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Total Unrealized Gains</span></p></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Net Unrealized Gain or (Loss) realized during the quarter   ended December 31,2021</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_98A_ecustom--InvestmentSecuritiesBasis_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Basis"><span style="font: 10pt Times New Roman, Times, Serif">5,741</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_984_eus-gaap--AvailableForSaleSecurities_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Fair Value"><span style="font: 10pt Times New Roman, Times, Serif">7,858</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_989_ecustom--AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeLossTax_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Total Unrealized Gain"><span style="font: 10pt Times New Roman, Times, Serif">2,118</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td> <td id="xdx_988_eus-gaap--EquitySecuritiesFvNiUnrealizedGainLoss_c20211001__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, net Unrealized Gain or (Loss) realized"><span style="font: 10pt Times New Roman, Times, Serif">0</span></td></tr> </table> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td colspan="11" style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">725,000 Series M Preferred of Zander Therapeutics, Inc.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; width: 1%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; width: 11%"><span style="font: 10pt/107% Times New Roman, Times, Serif">Basis</span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: center; width: 1%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt/107% Times New Roman, Times, Serif">Fair Value</span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt/107% Times New Roman, Times, Serif">Total Unrealized Loss</span></td><td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Net Unrealized Gain or (Loss) realized during the quarter  ended September 30,2021</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_98E_ecustom--InvestmentSecuritiesBasis_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Basis"><span style="font: 10pt Times New Roman, Times, Serif">13,124</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_98D_eus-gaap--AvailableForSaleSecurities_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Fair Value"><span style="font: 10pt Times New Roman, Times, Serif">12,109</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td><td id="xdx_983_ecustom--AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeLossTax_c20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Total Unrealized Gain"><span style="font: 10pt Times New Roman, Times, Serif">(1,104</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td> <td id="xdx_981_eus-gaap--EquitySecuritiesFvNiUnrealizedGainLoss_c20211001__20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, net Unrealized Gain or (Loss) realized"><span style="font: 10pt Times New Roman, Times, Serif">0</span></td></tr> </table> 5741 7858 2118 0 13124 12109 -1104 0 <p id="xdx_803_ecustom--InvestmentSecuritiesTextBlock_zE1yCJnqQmbg" style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">NOTE 10. <span id="xdx_82A_zIb1rwUFHLpf">INVESTMENT SECURITIES</span></span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">During the quarter ended June 30, 2021 the Company was paid 50,000 common shares of Oncology Pharma, Inc. pursuant to an agreement entered into by and between KCL Therapeutics, Inc. ( a wholly owned subsidiary of the Company) and Oncology Pharma, Inc. whereby Oncology Pharma, Inc. was granted a license for the development and commercialization of certain intellectual property (“License IP”) for the treatment in humans of colon cancer for a term of fifteen years from April 7, 2021.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">During the quarter ended June 30, 2021 <span id="xdx_904_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20210401__20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnrelatedPartyMember_zm5cTLDwffu5" title="Number of shares sold">13,000</span> of the aforementioned common shares were sold to an unrelated party for $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pp0p0_c20210401__20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnrelatedPartyMember_zVas1bm0PQj8" title="Proceeds from Issuance or Sale of Equity">300,000</span> cash.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">During the quarter ended September 30, 2021 <span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20210701__20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnrelatedPartyMember_z59okaotYU03">18,000</span> of the aforementioned common shares were sold to an unrelated party for $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pp0p0_c20210701__20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnrelatedPartyMember_zIThwdFFGS2a" title="Proceeds from Issuance or Sale of Equity">195,000</span> cash.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of December 31, 2021 18,300 common shares of Oncology Pharma, Inc. constitute the sole investment securities other than shares of Zander Therapeutics, Inc. held by the Company.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On December 31,2021 the Company revalued 18,300 common shares of Oncology Pharma, Inc. at the closing price of the common shares on the OTC Pink market.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>As of December 31, 2021:</b></span></p> <table cellpadding="0" cellspacing="0" id="xdx_886_eus-gaap--MarketableSecuritiesTextBlock_zK3YBJBCrNZ3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INVESTMENT SECURITIES (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_8B4_z14fvGhBm0Ai" style="display: none">Schedule of investment securities</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td colspan="11" style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">18,300 Common Shares of Oncology Pharma, Inc.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 11%"><span style="font: 10pt Times New Roman, Times, Serif">Basis</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">Fair Value</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">Total Unrealized Losses</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Net Unrealized Gain or (Loss) realized during the quarter    ended December 31,2021</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td> <td id="xdx_986_ecustom--InvestmentSecuritiesBasis_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--OncologyPharmaMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Basis"><span style="font: 10pt Times New Roman, Times, Serif">677,100</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td> <td id="xdx_981_eus-gaap--AvailableForSaleSecurities_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--OncologyPharmaMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Available-for-sale Securities"><span style="font: 10pt Times New Roman, Times, Serif">74,115</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td> <td id="xdx_986_ecustom--AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeLossTax_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--OncologyPharmaMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Total Unrealized Gain"><span style="font: 10pt Times New Roman, Times, Serif">602,985</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td> <td id="xdx_986_eus-gaap--EquitySecuritiesFvNiUnrealizedGainLoss_c20211001__20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--OncologyPharmaMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Equity Securities, FV-NI, Unrealized Gain (Loss)"><span style="font: 10pt Times New Roman, Times, Serif">(123,891)  </span></td></tr> </table> 13000 300000 18000 195000 <table cellpadding="0" cellspacing="0" id="xdx_886_eus-gaap--MarketableSecuritiesTextBlock_zK3YBJBCrNZ3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INVESTMENT SECURITIES (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_8B4_z14fvGhBm0Ai" style="display: none">Schedule of investment securities</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td colspan="11" style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">18,300 Common Shares of Oncology Pharma, Inc.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 11%"><span style="font: 10pt Times New Roman, Times, Serif">Basis</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">Fair Value</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">Total Unrealized Losses</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Net Unrealized Gain or (Loss) realized during the quarter    ended December 31,2021</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td> <td id="xdx_986_ecustom--InvestmentSecuritiesBasis_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--OncologyPharmaMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Basis"><span style="font: 10pt Times New Roman, Times, Serif">677,100</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td> <td id="xdx_981_eus-gaap--AvailableForSaleSecurities_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--OncologyPharmaMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Available-for-sale Securities"><span style="font: 10pt Times New Roman, Times, Serif">74,115</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td> <td id="xdx_986_ecustom--AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeLossTax_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--OncologyPharmaMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Total Unrealized Gain"><span style="font: 10pt Times New Roman, Times, Serif">602,985</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td> <td id="xdx_986_eus-gaap--EquitySecuritiesFvNiUnrealizedGainLoss_c20211001__20211231__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--OncologyPharmaMember_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Equity Securities, FV-NI, Unrealized Gain (Loss)"><span style="font: 10pt Times New Roman, Times, Serif">(123,891)  </span></td></tr> </table> 677100 74115 602985 -123891 <p id="xdx_804_ecustom--StockTransactionsTextBlock_zg1aAGPm27oe" style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">NOTE 12. <span id="xdx_828_zU01zFnPxmK7">STOCK TRANSACTIONS</span></span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On October 1, 2021 the Company issued <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_c20210925__20211002__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zJ6JfJEt5r86" title="Shares issued in satisfaction of convertible identedness">101,718,058</span> common shares in satisfaction of $<span id="xdx_906_ecustom--StockIssuedDuringPeriodValuesConversionOfConvertibleSecurities_pp0p0_c20210925__20211002__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zkTKKRum0aUj" title="Value of shares issued in satisdaction of convertible debt">425,000</span> of convertible indebtedness and $<span id="xdx_90C_eus-gaap--InterestExpenseDebt_pp0p0_c20210925__20211002__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zTxFk8XofiLa" title="Accrued Interest">154,991</span> of accrued interest on convertible indebtedness.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On October 1, 2021 the Company issued <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_c20210925__20211002__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zVCBI3Km8eFh" title="Shares issued in satisfaction of convertible identedness">5,869,589</span> shares of Series A Preferred stock in satisfaction of $<span id="xdx_905_ecustom--StockIssuedDuringPeriodValuesConversionOfConvertibleSecurities_pp0p0_c20210925__20211002__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zRDvSRxhE9Nl" title="Value of shares issued in satisdaction of convertible debt">50,000</span> of convertible indebtedness and $<span id="xdx_90D_eus-gaap--InterestExpenseDebt_pp0p0_c20210925__20211002__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_ziB6Ysof6j0a" title="Accrued Interest">23,369</span> of accrued interest on convertible indebtedness.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On October 29, 2021 the Company issued <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_c20211001__20211029__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zlRB59qLPOll" title="Shares issued in satisfaction of convertible identedness">25748147</span> common shares in satisfaction of $<span id="xdx_90B_ecustom--StockIssuedDuringPeriodValuesConversionOfConvertibleSecurities_pp0p0_c20211001__20211029__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zZVSDvE7so0l" title="Value of shares issued in satisdaction of convertible debt">140,000</span> of convertible indebtedness and $<span id="xdx_90F_eus-gaap--InterestExpenseDebt_pp0p0_c20211001__20211029__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zO0cQp2d2KBk" title="Accrued Interest">54,000</span> of accrued interest on convertible indebtedness.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On November 4 , 2021 the Company issued <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_c20211101__20211104__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zvdD5q7RmFa6" title="Shares issued in satisfaction of convertible identedness">8626613</span> common shares in satisfaction of $<span id="xdx_906_ecustom--StockIssuedDuringPeriodValuesConversionOfConvertibleSecurities_pp0p0_c20211101__20211104__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zJ6DYcOrMe6" title="Value of shares issued in satisdaction of convertible debt">50,000</span> of convertible indebtedness and $<span id="xdx_90E_eus-gaap--InterestExpenseDebt_pp0p0_c20211101__20211104__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_z6pUWveXkz4h" title="Accrued Interest">69,012</span> of accrued interest on convertible indebtedness.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On November 24, 2021 the Company issued <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_c20211101__20211124__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zR5ln40rn846" title="Shares issued in satisfaction of convertible identedness">77355500</span> common shares in satisfaction of $<span id="xdx_905_ecustom--StockIssuedDuringPeriodValuesConversionOfConvertibleSecurities_pp0p0_c20211101__20211124__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zY1y8gfqwhSk" title="Value of shares issued in satisdaction of convertible debt">95,964</span> of convertible indebtedness and $<span id="xdx_903_eus-gaap--InterestExpenseDebt_pp0p0_c20211101__20211124__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zUXxszcppSC5" title="Accrued Interest">36,967</span> of accrued interest on convertible indebtedness.</span></p> <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On December 10 2021 the Company issued <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_c20211201__20211210__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zZyRZTPks6X" title="Shares issued in satisfaction of convertible identedness">1,425,000</span> shares of Series A Preferred stock in satisfaction of $<span id="xdx_90F_ecustom--StockIssuedDuringPeriodValuesConversionOfConvertibleSecurities_pp0p0_c20211201__20211210__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zBzerZCPCx12" title="Value of shares issued in satisdaction of convertible debt">25,000</span> of convertible indebtedness and $<span id="xdx_901_eus-gaap--InterestExpenseDebt_pp0p0_c20211201__20211210__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zshlJlrH1fw" title="Accrued Interest">10,625</span> of accrued interest on convertible indebtedness.</span></p> 101718058 425000 154991 5869589 50000 23369 25748147 140000 54000 8626613 50000 69012 77355500 95964 36967 1425000 25000 10625 <p id="xdx_803_eus-gaap--SubsequentEventsTextBlock_zmS3N4wje8na" style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">NOTE 13. <span id="xdx_82F_zQJuwo1RrT1h">SUBSEQUENT EVENTS</span></span></p> <p style="font: 10pt/10.7pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On January 13, 2022 Regen Biopharma, Inc. entered into a sublease agreement with BST Partners (“BST”) whereby Regen Biopharma, Inc. would sublet office space located at 4700 Spring Street, Suite 304, La Mesa, California 91942 from BST on a month to month basis for $5,000 per month beginning January 14, 2022.</span></p> <p style="font: 10pt/10.7pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">BST Partners is controlled by David Koos who serves as the sole officer and director of Regen Biopharma, Inc.</span></p> EXCEL 51 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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